Wednesday, 28th April 2010

Social Analytics: Tapping Prediction Markets for Foresight

Social Analytics: Tapping Prediction Markets for Foresight
Source: Deloitte Development LLC

Prediction markets are emerging as a valuable forecasting tool in areas from sales forecasts to project success. This social analytics strategy could potentially help resolve a number of business uncertainties – especially where prior data may be sparse or the situation is so unique that other forecasting tools are less useful. Instead of fancy statistics and software, prediction markets tap into the wisdom of crowds and the capacity of markets to aggregate beliefs to generate predictions.

In the coming year, Chief Financial Officers (CFOs) can be expected to hear a lot more regarding the value of analytics – to convert corporate data and information from hindsight to insight and then to valuable and actionable foresight.

How can CFOs use prediction markets as part of their portfolio of decision support tools to help reduce uncertainty? Read the article below – our first look at prediction markets.

+ Full Document (PDF)

Category:

• Business and economics (DocuTicker)

Source:

• Deloitte

Views: 505

Please note: DocuTicker's editors collect citations for full-text PDF reports freely available on the web but we do not archive these reports. When you click a link to find and/or download the report, you are leaving the DocuTicker site. DocuTicker makes no representations regarding the ongoing availability of any report or any external resource. Links were accurate as of the date of posting.

FreePint

FreePint supports the value of information in the enterprise. Read more »

Latest FreePint Articles:

• Duedil - Making Company Data More Transparent
  Thursday, 23rd May 2013

  Penny Crossland reviews internet start-up Duedil - short for due diligence - and finds it a welcome addition to the numerous web-based providers of company data. Aggregating all UK and Irish company documents from the official registers, around 100 million at the last count, Duedil combines these with information from regulatory registers and presents the data via a visually attractive dashboard, with interactive features.

• Mini Review: Duedil
  Thursday, 23rd May 2013

  Duedil is an internet start-up with a mission to make open source official company data transparent. The database covers all UK and Irish corporate filings, 100 million in all, and with sophisticated visualisation tools and clever linking of social media has managed to produce a useful tool for company and due diligence researchers. This review analyses the service, highlights some of the finer points and points to aspects that still need improving.

• Reskilling for Survival in an Increasingly Information-Biased World
  Thursday, 23rd May 2013

  Info pro expert Sue Hill of Sue Hill Recruitment explains how it's essential that her organisation keep on top of big data development trends in order to best advise client companies and job seekers. She explains what info pros should do to position themselves at the centre of the big data opportunity.

• ... more ...

All Family Articles »
Family Articles by Category »

A FreePint Subscription delivers articles and reports that support your organisation's information practice, content and strategy.

Start the conversation about a subscription by
completing our online form: "How can FreePint help?"

FreePint Testimonials

"This report will be of great value to me as I meet with the managing partner in the near future to discuss the budget. It is one of the ..."

Read more testimonials and supply yours »