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. 

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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. 

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

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