Prediction Markets, Your Intranet’s Next Killer Application?
My fascination with predictive markets and what they can do for companies and industries continues to grow. Recently, I stumbled upon an article by a co-worker, Alex Kirtland that discusses public predictive markets and how they can be used to simplify concepts about the buying and selling of events and ideas.
I believe prediction markets have the potential to be the next killer applications on intranets and extranets. Imagine a company with 20,000 employees needing to make strategic bets around the launch of a specific product. What if it opened up the decision making to its employees via an internal prediction market? Or maybe, what if it opened up the decision making to its business partners or even select customers via the prediction market?
The insights gained in this manner can beat any single individual’s perspective. They can be used to make decisions or validate existing ones. The excitement, empowerment and competitiveness of the prediction market will bring users back to the intranet or extranet again and again to bet and argue competing strategies.
