Matt Fogarty of CrowdCast:

Business leaders rely on metrics and data to inform decisions around new products and opportunities, but traditional forecasting methods suffer from bias and lack of first-hand information. That’s why business forecasting is an ideal target for the application of crowd wisdom. While bets are made anonymously, some prediction market software applications have built-in reward systems for accurate forecasters. And the accuracy of prediction markets over traditional forecasting methods is proven again and again. […] Prediction markets will then aggregate this knowledge to produce actionable, people-powered forecasts. The result is an ultra-rich information source that will lay the foundation for smarter, better-informed company decisions. […]