Wisdom of the crowd comes to the enterprise

New Forrester report makes the case that prediction markets are a valuable tool for executive decision-making, lowering the cost of forecasting and increasing accuracy.

Predictions markets are no longer the province of academic research or consumer services, such as Hubdub and NewsFutures. In a new report from Forrester Research, "Prediction Markets: Wisdom Of The Crowd Comes To The Enterprise" ($279), Oliver Young makes the case that prediction markets are a valuable tool for executive decision-making, lowering the cost of forecasting and increasing accuracy. Many companies have been using prediction markets for years, but Young predicts that collecting the wisdom of the crowd will become more mainstream in enterprises.

 

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