Our unique Social Forecasting™ technology has been proven to provide more accurate forecasts on new products during the innovation process – not after significant funds have been sunk into their development. This information is probably the most valuable functionality an innovation management system can offer.
Social Forecasting™ Technology from CrowdWorx®
Social Forecasting™: Proven to be more accurate than market research!
10-year scientific long-term study confirms that Social Forecasting™ is more accurate than market research in 3 out of 4 cases. Social Forecasting™ also exceeds the performance of all experts.
Source: Rietz et al. (2003): Accuracy and Standard Error in 10 Years of Study, University of Iowa, Working Paper
Social Forecasting™ at Deutsche Telekom
Deutsche Telekom uses the Social Forecasting™ technology from CrowdWorx for the Telekom Prediction Markets to bundle the distributed knowledge of employees in the shortest possible time and generate answers to important business questions.
Social Forecasting™ Services from CrowdWorx®
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Initially used to verify the team assumptions for the business plan, the results of the prediction markets quickly led us from the ‘engineer’s perspective’ to the customer perspective. The crowd provided not only confirmation but also completely new insights.
With CrowdWorx’s prediction market we were able to tap into the distributed knowledge of employees worldwide and use it for product development and forecasting new technologies.
I am very, very impressed with the speed and quality. It’s great that we were able to put it online in very few iteration steps and that we got the evaluation presented very quickly and well.