Prediction Markets: Wisdom Of The Crowd Comes To The Enterprise

Air Date: Monday, September 15, 2008

Cost: $250

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Presented By:

G. Oliver Young
Analyst
Forrester Research, Inc.

Who should attend: B2B Market Research professionals

Description:

The "wisdom of crowds" is capturing the attention of corporate strategists across the globe and, as a result, many are now looking to prediction markets — speculative markets in which traders collectively predict future events — to generate collective intelligence. For enterprises, prediction markets bring unique value: They focus on the future, aggregate diverse information pools that can be applied to multiple decision-making domains, create streams of actionable data suitable for executive decision-making, and can often cut through corporate politics and pressures at lower cost than traditional forecasting methods. Market Research professionals will, however, need to have an active hand in the management of these mechanisms, ensuring strong management support, the right incentives for traders, and a focus on appropriate questions. When executed properly, the value to the enterprise is enormous. As a result, Forrester believes that prediction markets will ultimately find a permanent home in the market research toolbox.

Agenda:

What are prediction markets, and how do they work?
Why prediction markets are successful and ensuring success
Some of the companies working with prediction markets today
Recommendations

Vendors mentioned: Consensus Point, Hubdub, Inkling; Intrade, NewsFutures, and Spigit

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