Friday, May 22, 2009

We surveyed users in a company after running an internal pilot and here's what they said

We recently helped one of our clients - a large retail chain - conduct a survey after they ran a 3 month internal pilot targeted to manager level and below from locations around North America. The data (fortunately - whew!) showed a lot of positive signals and the team we're working with was able to incorporate the results in to the business argument for continuing the marketplace beyond the pilot phase.

We were mostly encouraged too, like the 97% of people who said they will continue to use the prediction market beyond the pilot. But there are also areas to improve. Even though the strongly agrees and agrees far out-weighed the disagree/strong disagrees, we'd like to see the trend be even more in the positive direction and get some of those no-opinion folks off the fence!

I personally was most interested in the "primary reason you traded" question. Although 48% of respondents said they used only personal knowledge to trade, the fact that the other halfsaid they did minimal or extensive research, then traded, shows a different type of engagements than only contributing what personal knowledge capital you have. These are people willing to broaden their own perspectives in order to effectively trade and get smarter about operational and strategic issues in the company. That is a benefit of prediction markets we always see that needs to get more love when we describe the value proposition.

We plan on conducting this survey again with this company in a few months to continue the feedback loop and are doing the same with other companies. We'll be sure to keep you apprised of how things are going even if we still have some of those pesky no-opinion types.

Here are some of the results:


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