Word: predictioneer
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That scenario isn't as farfetched as you might think. It's called a prediction market, based on the notion that a marketplace is a better organizer of insight and predictor of the future than individuals are. Once confined to research universities, the idea of markets working within companies has...
To understand the hype, take a look at Hewlett-Packard's experience with forecasting monthly sales. A few years back, HP commissioned Charles Plott, an economist from the California Institute of Technology, to set up a software trading platform. A few dozen employees, mostly product and finance managers, were each...
Intrigued by that success, HP's business-services division ran a pilot last year with 14 managers worldwide, trying to determine the group's monthly sales and profit. The market was so successful (in one case, improving the prediction 50%) that it has since been integrated into the division's...
U.S. employers last month added 248,000 jobs, a larger than expected gain that follows on the heels of sizable nonfarm payroll increases in March and April, according to the Bureau of Labor Statistics. The Business Roundtable announced other promising news last week. When the group surveyed its CEO members...
Kowal’s prediction, 25 years later, has proved to be wrong. While the D.U. Club has changed, merging with the The Fly Club in the late 1980’s, final clubs as a whole have remained relatively the same: all-male and exclusive.