Forecasting through employee crowdsourcing

This brief article explains how employees can be used, via social media such as wikis and blogs, to provide forecasts that might otherwise be challenging.   For instance, it is often difficult to forecast the sales of a new product or if the environment is particualrly dynamic.  However, employees may have a huge amount of collective insight into how their market behaves and may be able to make quite accurate forecasts in these circumstances.  Of course, the author of the article has an interest in promoting this, as he formed a company – CrowdWorx – that specialises in this.

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