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Why Prediction Markets Are Good for Enterprise
From selecting the lead actress in a Broadway musical, to predicting an essential delay inside the provide of Boeing’s 787 Dreamliner months sooner than the CEO knew about it, to exactly forecasting US presidential electionsprediction markets have realized some excellent successes by aggregating the information of crowds.
Until now, the potential for this distinctive technique has remained merely an fascinating curiosity. Nevertheless a handful of progressive organizationsGE, Google, Motorola, Microsoft, Eli Lily, even the CIAhas effectively tapped employee insights to range how enterprise will get accomplished.
In Oracles, Don Thompson explains how these and totally different corporations use prediction markets to make larger choices, describing what might probably be the origins of a social revolution. Thompson reveals how prediction markets can:
draw on the hidden info of every employee
faucet the psychological bandwidth” of retired employees
substitute for infinite conferences
By displaying successes and failures of precise organizations, and determining the widespread roadblocks they’ve overcome, Oracles offers a info to start out testing expertise in the direction of the collective information of employees and the marketall to the advantage of their bottom line.
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