ATE - Prediction Markets and Crowdsourcing
6th June 2013 Virtual Event Ask The Expert (ATE) Webinars
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Thursday 6th June 2013 - 4:00 PM London, 5:00 PM Paris, 11:00 AM US Eastern, 8:00 AM US Pacific

Have you ever heard someone say, ‘If they were smart, they would take factor X into account when building the forecast.” There are many factors that influence forecasts, but no one person or small group (including those doing the forecasting) is aware of all relevant factors or the degree of impact that each of those factors will have. Prediction markets, however, aggregate the decentralized information that exists in the minds of everyone connected with the activity, which results in more accurate forecasts. In the world of application design, all ‘bugs’ can be spotted and fixed quickly if enough programmers examine the code. The key is that each programmer has a different way of viewing the problem, and therefore ‘crowds’ are capable of extraordinary feats of problem solving. Join the webinar to discuss potential applications of collective intelligence innovations for your supply chain.

During the webinar, we will explore what prediction markets and crowdsourcing are all about, and the many ways that they can be applied to supply chain problems. See how prediction markets can lead to better information flow, and therefore increased efficiency. Explore prediction markets as a strategy and decision-making tool. Discuss how crowdsourcing can be used to effectively solve problems. Learn about the latest research that can dramatically improve forecasting in a variety of contexts.

Our expert

David Rajakovich 

David built an innovative start-up – Prometheus Procurement – around the idea that procurement needs to improve the benefits it delivers to the wider organization. His mission is to design procurement, SRM, and negotiation training that challenges delegates to learn how to solve problems and to get beyond a price-based focus. He believes in prediction markets as a forecasting tool, and that procurement must further develop its capability to analyse data. Prior to forming his own company, David has worked as a procurement consultant for close to five years.

David graduated with distinction from the University of Exeter’s MBA programme following on from two years as a production manager in Alcoa’s Flexible Packaging Division. David began his professional career as a military officer, serving as a Platoon Leader and Executive Officer in various PATRIOT missile batteries, including one year in South Korea. David speaks Spanish fluently, and has delivered procurement training in Spanish. David has published a study “Prediction Markets As A Medical Forecasting Tool: Demand For Hospital Services” in The Journal of Prediction Markets.