Black Market, Black Friday

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Consensus Point has done it again! On Monday, we blogged about Football Futures accurately predicting that RGIII would win the Heisman trophy four days before the announcement. Today, we’d like to share some of the other predictions that we have made lately using consumer market research panel groups. In early November, our research markets accurately predicted both Black Friday sales increases as well as Thanksgiving holiday travel increases from 2010 to 2011.

We are never surprised when our markets make accurate predictions, but we love to share our results with those who might not be as familiar with the power of prediction markets as we are.

Whether determining consumer preferences or predicting the probability of a future outcome, prediction markets source information from the crowd both efficiently and accurately. Because prediction markets rely on respondents making judgments rather than on a representative sample giving their opinions, they can provide real-time answers much more quickly and at a lower cost than traditional surveys.

Our research clients are finding more and more to appreciate about the flexibility and timeliness of prediction markets in helping them provide their clients with information. If you’re interested in learning more about our consumer research markets, please go to our website: www.consensuspoint.com.



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