For a major article in a specialized business magazine, I am writing an article about the use of prediction markets in business. While I have access to a few cases, I would naturally like to use as many cases as possible — successes and misfires.
Particularly interested in how you/your company uses prediction markets — internal, external, customers, etc, and what seems to work most effectively.
Great to see you are writing an article on a revolutionary methodology that is really gaining traction and reinventing the MR industry. The WSJ wrote an interesting article this week on Best Buy and how they use it for revenue forecasting.
James Surowiki’s fantastic book The Wisdom of Crowds inspired our company BrainJuicer to create an ESOMAR award winning market research methodology for concept screening that embraces and leverages the “wisdom of crowds”.
Companies gain real value in the “fuzzy front end” of the innovation funnel when they employ this methodology with consumers. Traditional methodologies for concept screening in the front end of innovation can deliver less than expository results for what is often a costly and time consuming investment. We conduct “predictive market” studies with consumers to help marketers, innovation and NPD teams unlock and inject “wisdom of crowds” into their decision making processes. With such a high percentage of new products failing, predictive markets are proving to be a remarkable way for companies to proceed confidently and quickly at the Front End to accelerate and improve their innovation process.
A recently completed meta analysis of 215 concepts using our predictive markets approach versus traditional monadic testing has shown that predictive markets are as accurate, more differentiating and sensitive in identifying concepts that are leading edge; ahead of their time or may constitute breakthrough ideas in niche markets.
Let me introduce Balanced Scorecard Toolkit
The Balanced Scorecard Toolkit is a set of documents designed to help develop, implement, use and evaluateBalanced Scorecard in the company to measure, control and improve performance.
Check the information about toolkit parts below or purchase a full version.
http://business-development-metrics.com/bsc-toolkit.htm
Please fill free to contact me should you have any questions.
Sincerely
Kelly Stuart
Business Development