Monday, December 10, 2007

InfoWorld article on Crowdsourcing and Prediction Markets

Regular followers of crowdsourcing and prediction markets may find this article to be elementary, but for those looking for background of the space, Lena West does a good job in her Infoworld blog of providing a comprehensive overview and giving some practical advice on "gotchas" if you're starting any flavor of a crowdsourcing initiative.

The article is here:

Infoworld's editor's comments about the article are here:

1 comment:

Julius said...

You could gain huge traffic if you show the prediction markets for the US elections.

I'm not sure if you even do open prediction markets. I'm just saying, if you don't, you should. You're missing millions of views here.. But don't take my word. Put up a prediction market inside you own company and ask the question if opening up (this) prediction market will gain your company.

It would be super interesting for me and others to see how different prediction market sites differ on the US elections predictions. If it shows your competition has the same values for candidates; that shows the system gives a really accurate view of what people are estimating. The disadvantage would be that you would have to find some sort of unique selling point.. (better user interface; cheaper, etc).

If you'd change your companies strategy based on your own software and you actually gain from it. You'd have another great example why other people should use your software :D.

Oh, and even if you don't open up; you should at least put one example online so people dcan have an idea what you're selling.

If you dó have those examples online, I can't find them; you should change your homepage to include a huge button that says; "learn more by this example inkling market" or something.