Speculation is something I highly recommend as a form of personal/career development exercise. It has the ability to sharpen your thought process and drives you to come up with your own future view of the world.
At the beginning you would probably suck at it, but with practice you will be amazed at how good you can get at it. After all speculation is free! (at least initially)
So what should you be speculating about?
Well, like me you could:
Speculate about the economy (e.g. what is the biggest FDI area in the next 5 years?)
Speculate about your industry (e.g. who will win the cloud wars? AWS, Microsoft, Google?)
Speculate about other industries (e.g. when will autonomous vehicles be the norm?)
Speculate about the next disruption (e.g. when will all major banks trade Bitcoin?)
Speculate about your company (e.g. where are your next customers likely to come from?)
Speculate about your career (e.g. what is the impact of Data Science to your career?)
…and the list goes on.
Some personal guidelines I follow on speculation:
- Speculation should be un-emotional, just look at the current context and figure out where something is heading.
- Try and figure out how your speculation of a certain area would affect you
- If your speculation is strong, adjust and adapt yourself to take advantage of it
- Be judicious when making big changes/bets based on speculation (remember sub prime loans and the financial crisis?)