Mercury’s Blog Covers CrowdClarity Solution
Jed Christiansen, author of Mercury’s Blog, a blog on prediction markets and innovation recently published a story about CrowdClarity.
In it, Jed covers not only the data we’ve produced, but explains why that data is valuable to large companies who may have difficulty otherwise predicting sales accurately.
Within the first week of November 2008, the prediction market would have warned Chevrolet that they were going to miss their revenue targets by $800 million in the Chevrolet division alone. And depending upon the exact product mix, this could have easily exceeded $1billion.
… Assume that even with three weeks’ early warning Chevrolet was only able to save 10% of that gap, it’s still $80million in savings. Even if a corporate prediction market for a giant company like GM cost $200,000 a year, that would still be a return on investment of 40,000 %. And again, that’s in the Chevrolet division alone.
It really brought things full circle, all of us here at CrowdClarity read Jed’s blog often, even when we were just starting to develop our solution and bring it to market. His blog continues to be a very rich source of well thought out analysis on all things prediction markets – Thanks Jed!