A method is provided for predicting a value of a designated rock or fluid property in a subterranean geologic volume. A first predicted value of the designated rock or fluid property is also assigned to a volume of a multi-dimensional, multi-scale model. A first predicted value of seismic response for the model volume is calculated from a response model using the first predicted value of the designated rock or fluid property, wherein the response model is responsive to changes in predicted values of the designated rock or fluid property. A synthetic trace is generated and iteratively compared to the corresponding trace obtained from one or more sets of actual seismic data to determine a difference while consistency is maintained between the types, scales and dimensions of values and data. The first predicted value of the designated rock or fluid property is adjusted in response to the difference to create a second predicted value of the designated rock or fluid property, wherein the second predicted value generally reduces the difference.