CrowdWorx
CrowdWorx® is a web-based social forecasting tool that aggregates the knowledge & gut feel of your own colleagues and transforms it into forecasts. CrowdWorx is based on the Wisdom of Crowds and is proven to provide more accurate forecasts than traditional forecasting methods.
Companies apply this tool to issues ranging from sales planning and sales forecasting to screening new product ideas. Since CrowdWorx uses the knowledge of employees, outside experts and customers as a basis for forecasting it can even be used when historical data is missing, such as in the case of completely new products and innovations. And besides all this, it is the first software that makes forecasting fun! Contact us for more information.
Areas of application
Social forecasting is used by leading players such as Google, Siemens, Deutsche Telekom, Microsoft, ArcelorMittal, BestBuy and many others to support high-value decisions, where traditional methods reach their limits:
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Sales and revenues: collective forecasts of unit and value sales, market shares, growth rates etc. for any product and any market;
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Innovation: quantitative assessment of the potential from new product ideas using the collective intelligence of your employees and customers;
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Project management: early warning indicators that you can really trust as they are truly derived bottom-up; precise estimates of product launch dates, project completion dates and milestones; accurate assessment of the probability of success for risky innovation projects.
Impact
CrowdWorx enables our clients to achieve faster and more accurate forecasts at much lower costs than existing methods (just think test sales!) by converting the insight of their employees into quantitative forecasts.
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Accurate: By applying CrowdWorx, a global manufacturer of consumer packaged goods (FMCG) was able to increase the accuracy of its sales forecasts by 15 percentage points.
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Less costly: At a leading German retail chain, it was possible to cut the cost of evaluating new products by 90%, compared to the traditional test sales, by using CrowdWorx.
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Enhanced speed: CrowdWorx forecasts arrive in real-time and are proven to demand less time from your teams than surveys or expert analyses.
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Cutting the failure rate of innovations by half: Innovation research has shown that collective methods like CrowdWorx have the potential of reducing the failure rate of innovations more effectively than any statistical method or alternative institutional process (CrowdWorx Innovation Management).
Learn more about CrowdWorx on its dedicated product page: www.crowdworx.com