Inkling Markets is used a lot of different ways, but these are business solutions priced and designed to solve a specific problem. Contact us to learn more.
Especially effective in involving remote sales teams, franchises, and channel partners. Your sales team is biased when it comes to the amount of sales they think they can achieve. Your marketing team is biased. Your executives are biased. Your product development team is biased. Everyone is biased one way or another. We work with you to not only collect ongoing forecasts from all these different groups in your organization, but to also quantify what their biases are and inform them what they are, which means continuously improving the forecasts over time as people become more aware of reality.
Depending on the questions you have, we’ll recruit a diverse group of people who have the right domain knowledge (or use a pool of people we’ve already vetted,) invite them to a private Inkling prediction market, and start collecting their forecasts. Management consultants have used our service to get better forecasts to include in their reports. Product companies have gotten insights in how their product will perform in the market. Investors have gotten a better signal on a company’s valuation as lasting or a short term fad.
We can also create real-time feeds of our forecasts for those business intelligence companies who have your own existing dashboard or “radar” products and would like to include crowdsourced forecasts in industry verticals you are targeting.
Working with a program management office or procurement office, we identify the key performance metrics for the program, then ask about the likelihood of achieving those metrics in a prediction market that is accessible to both Government employees and contractors alike. As needed, the forecasting results are turned in to reports that can be used with policy makers or central budgeting authorities. Inkling has been used as the crowdsourced forecasting solution in multiple Government research projects, is widely used in the U.S. Intelligence Community to improve forecasting activities and analysis, and has been used to quantify risks in large capital procurements in the U.S. Military.
Inkling has been used at dozens of universities around the world in MBA classes, economics, political science, and government, to teach the concept of prediction markets. Further, Inkling has been used by researchers who wish to include prediction markets as a component of their studies.