Industry leaders, academicians, and business representatives leading prediction markets in enterprises recently shared their insights and innovations related to prediction markets, at the Prediction Market Cluster Summit in Chicago on November 6, 2009.

Linda Rebrovick, CEO of Consensus Point, discussed effective uses of prediction markets, based on multiple years of supporting effective enterprise prediction markets in large companies and government organizations.  She explained that effective enterprise markets require 3 key components:  a proven and expert consultant, a solution that targets key business problems, and the right customer environment and implementation plan.  Rebrovick discussed several use cases highlighting customer examples across several industries and business problems. 

Click Here to Download Presentation (PDF)

Rami Levy, Distinguished Member of the Technical Staff, Technical Lead and Manager of Motorola’s Open Source Technologies Team, explained how Motorola added the TIX Market, powered by Consensus Point, in 2007 to address the challenges of increasing idea backlog and missed opportunities. Levy explained the evolution of the TIX Market and how, over time, the prediction market has streamlined the innovation process, yielding benefits of 55% decrease in disposition days and 40% increase in idea pursue rates. 

Click here to Download Presentation (PDF)

Robin Hanson, Chief Scientist of Consensus Point, discussed the advantages of prediction markets and how to develop effective markets to efficiently yield meaningful outcomes. 

Click here to Download Presentation (PDF)

According to recent McKinsey Global Survey Results, “The heaviest users of Web 2.0 applications are also enjoying benefits such as increased knowledge sharing and more effective marketing.  These benefits often have a measurable effect on the business.” Prediction markets are one of twelve key components of Enterprise 2.0 technologies.  According to McKinsey & Company, prediction market adoption within corporations has risen from less than 1% in 2007 to 8% in 2009, as large companies are embracing Web 2.0 tools.

To read more about the McKinsey Global Survey findings and the benefits of Web 2.0, visit McKinsey.com - Business and Web 2.0: An interactive feature.  Note: Free registration required to view entire articles, and Premium membership required to access entire study.