Two years ago the only way to run a prediction marketplace was to roll your own or call a vendor/consultant and have them set up software and run markets for you. It took many weeks, often months. Today with Inkling Markets it take seconds. […]
[#1] Improve forecasting of key performance indicators
Track and raise awareness of key success metrics to identify and mitigate risk factors before it’-s too late.
[#2] Expose product quality problems early
Identify design and production anomalies before a product (physical or virtual) is brought to market to avoid expensive repairs and recalls.
[#3] Predict risk to your supply chain
Run a “-web”- of markets about the risk factors to your supply chain to predict internal and external events that would cause inefficiencies or disruptions.
[#4] Foster a culture of innovation
Determine which new ideas and process improvements will have real business impact vs. the “-nice to have.”-
[#5] Create new interactions with users
Build a dedicated community of users around a marketplace of questions relevant to your business area and brand. […]
Previous blog posts by Chris F. Masse:
- The marketing association between BetFair and TOTE Tasmania works better than expected.
- The term “event markets” sucks —and the uncritical thinkers using this crappy term suck too.
- CLIMBING HIS WAY TO THE TOP: Erik Snowberg is now Assistant Professor of Economics and Political Science at California Institute of Technology.
- Unlike other countries, the United States of America defends the freedom to offend in speech.
- The best research papers on prediction markets
- 2008 Electoral Map
- American Enterprise Institute’s Center For Regulatory And Market Studies (Policy Markets)