Oracles: How Prediction Markets Turn Employees into Visionaries
|Rating||:||4.75 (718 Votes)|
|Number of Pages||:||272 Pages|
Why Prediction Markets Are Good for BusinessFrom selecting the lead actress in a Broadway musical, to predicting a crucial delay in the delivery of Boeing’s 787 Dreamliner months before the CEO knew about it, to accurately forecasting US presidential electionsprediction markets have realized some amazing successes by aggregating the wisdom of crowds.Until now, the potential for this unique approach has remained merely an interesting curiosity. Thompson shows how prediction markets can: draw on the hidden knowledge of every employee tap the intellectual bandwidth” of retired employees replace surveys substitute for endless meetingsBy showing successes and failures of real organizations, and identifying the common roadblocks they’ve overcome, Oracles offers a guide to begin testing expertise against the collective wisdom of employees and the marketall to the benefit of their bottom line.. But a handful of innovative organizationsGE, Google, Motorola, Microsoft, Eli Lily, even the CIAhas successfully tapped employee insights to change how business gets done.In Oracles, Don Thompson explains how these and other firms use prediction markets to make better decisions, describing what could be the origins of a social revolution
Thompson provides numerous examples and urges business managers to test out the collective wisdom of their company crowd.’” Business DigestOracles offers a fresh look at improving decision-making skills.” CHOICE Magazine there are enough examples of corporate successes for any executive to find use in this book, building on the notions of the wisdom of crowds and the value of open-book management.” The Globe & MailADVANCE PRAISE for OraclesOracles is a fantastic blend of the visiona
Not essential reading Colin E Manning This is a very readable book. If you are interested in learning about prediction markets this book is not the best starting point. Managers interested in collaboration technologies should read James Surowiecki's The Wisdom of Crowds first. If you already know a bit about prediction markets, this book has some collected some useful examples, but doesn't add very much to the exi. Amazon Customer said An Awesome Starting Point for Understanding Prediction Markets. This book provides a great survey of prediction markets and what they can be used for. The author doesn't dwell on the detailed mechanics of creating a market itself, but does tackle some of the organizational issues associated with setting up a market, fostering adoption and regular use, and avoiding conflicts with existing interests that might be threatened by the new techno. Great and engaging read! Reading by Accident This is a comprehensive book on prediction markets which is extremely engaging to read. I literally couldn't put it down! Frankly, I am quite surprised by the low number of reviews -- this is a definite read for anyone interested in how to leverage the full intellectual bandwidth in an organization.