Tapping the Wisdom of Crowds to Predict the Future
Jared Heyman, Infosurv
Originally presented: June 23, 2010
Watch time: 56 minutes
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For years, prediction markets have harnessed "the wisdom of crowds" to predict a variety of real-world outcomes with great accuracy, from movie box office receipts to election winners. Now the world's leading brands are tapping their predictive power for market research purposes, such as testing new product, marketing or packaging concepts. In this webcast, learn how these "virtual stock markets" can predict concept success at a fraction of the cost and many times the speed of a survey, while also improving respondent engagement and benchmarking capabilities.