Webcast Recording: Tapping the Wisdom of Crowds to Predict the Future – Prediction Markets for Concept Testing

For years, prediction markets have harnessed "the wisdom of crowds" to predict a variety of real-world outcomes with great accuracy, from movie box office receipts to election winners. Now the world's leading brands are tapping their predictive power for market research purposes, such as testing new product, marketing or packaging concepts. These "virtual stock markets" can predict concept success at a fraction of the cost and many times the speed of a survey, while also improving respondent engagement and benchmarking capabilities. 

Jared Heyman is a 12-year market research veteran and President of Infosurv, an innovative online research firm in Atlanta.  He’ll explain the science behind why predicting the future is so difficult for individuals yet so easy for crowds.   He’ll also show how organizations like General Mills, Nestle, and Google are leveraging prediction markets to predict a variety of future outcomes.  Loaded with practical tips and advice, this presentation will teach you how to harness the power of prediction markets to make better product development and marketing decisions.  

You will learn:
• How to aggregate “the wisdom of crowds” to predict future outcomes with great accuracy
• Why stock markets are so good at gathering and synthesizing information
• When prediction markets can out-perform surveys in terms of accuracy, speed, and cost
• Why the world’s most respected brands use prediction markets to test new product or marketing ideas

Meet Your Presenter:

Jared Heyman is the Founder & President of Infosurv (www.infosurv.com), a full-service online research firm specializing in employee, customer, and market research surveys.  He started the company in 1998 with the mission of leveraging innovative technologies and processes to conduct research online at a fraction of the cost and many times the speed of traditional methods.  He has since grown Infosurv into a thriving multi-million dollar corporation serving hundreds of clients around the globe, including dozens of Fortune 500 corporations and major government agencies.

Mr. Heyman has written numerous articles on market research topics that have been published in major industry publications including Marketing News, Quirk’s, CRM Magazine, Sbusiness, HR Matters, and The Atlanta Business Chronicle.  He has been featured in CNN Online, The Chicago Tribune, The Wall Street Journal, Entrepreneur magazine, PR News, Inc. magazine, ESOMAR Research World, and various other national and international publications. In 2009, he was awarded the ACCESS Entrepreneur of the Year Award. 

Mr. Heyman has served as a guest lecturer on topics related to market research and entrepreneurship at universities such as Emory University, the University of Georgia, the Georgia Institute of Technology, plus at market research conferences and webinars for organizations such as the Institute for International Research (IIR), the Market Research Association (MRA), and the Advertising Research Foundation (ARF), and the Promotion Marketing Association (PMA.) He has also played an active role in Entrepreneur’s Organization (EO), the Council of American Survey Research Organizations (CASRO), and the American Marketing Association (AMA). He has filed United States patents on inventions related to market research and prediction markets.  

Before founding Infosurv, he served as a consultant at Bain & Company, a top-tier business strategy consulting firm.   Mr. Heyman graduated Magna Cum Laude from the University of Texas at Austin with majors in Business Honors and Marketing Research. His hobbies include travel, fitness, and private aviation.

*This is a PDMA PICK! Tapping the Wisdom of Crowds was one of our most highly received PDMA Webcasts.

Duration: 1 Hour

*PDMA members, make sure to log in to receive your discounted member price of $25.