prospection

Prospection is the act of seeking or forecasting something in the future. In everyday usage, it most often refers to the process of identifying potential customers or markets—lead generation and sales prospecting. The term can also describe exploration for natural resources or the broader practice of imagining future events or opportunities.

In business and sales, prospection involves discovering and qualifying prospects, researching target segments, and initiating contact to build a sales pipeline. Typical activities include market research, cold outreach, networking, referrals, content marketing, and CRM-based lead management. Metrics commonly used are qualified opportunities, conversion rate, pipeline value, and cost per acquisition.

In mining and natural resource industries, prospection (or prospecting) denotes exploration work aimed at discovering mineral deposits or other resources. Methods include geological mapping, geophysical and geochemical surveys, prospecting trips, sampling, staking claims, and drilling to determine ore quality and feasibility.

In cognitive science, prospection refers to the mental simulation of future states, supporting planning and decision making. The term also appears in historical or philosophical discussions about foresight and expectation. Etymology traces to Latin roots related to viewing or outlook, and related terms include prospecting and prospect. See also: prospecting, lead generation, market research, and mining prospecting.