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Applications
CrowdWorx is used in organizations where executives are remembering a simple truth: Often your own people now much more than you think.
Market metrics
- How many units will be sold next quarter in region A?
- What will be market shares in segment B?
- What will be the growth rate of the EU market for widgets?
- Competitive Intelligence: Will competitor XYZ enter the North American market next year? Will competitor ABC release a new widget this year?
Project management
- How much will be actual development cost?
- What is the most likely actual launch date?
- How likely is a failure of project XYZ?
R&D management
- Which out of 10 molecules should be dropped from multi-million development cycle?
- Which new telco standard is the most promising one and we should focus on?
- Which new widget-technology should we invest our R&D funds in?
Product innovation
- Which new features would be best for a new product
- Assess the revenue potential product ideas by putting a quantitative sales estimate to each idea before deciding to invest
- Use the wisdom of the Crowd to quickly narrow down a list of hundreds of employee-generated or customer-generated ideas to the most promising ideas
HR
- For HR executives CrowdWorx can help identify issues, track success of implemented HR measures
- CrowdWorx provides a real-time indicator of the impact of company news
- CrowdWorx tracks the mood in the company or department consistently over time
- For employees CrowdWorx can increase satisfaction by giving them a voice, especially when the actionable insights and forecasts from the crowd have management attention
Team collaboration & knowledge management
- Connect teams for different departments by cutting through the red tape and lengthy meetings and getting right to the point
- Help building consensus among departments by citing the collective assessment of all departments generated by CrowdWorx
- Let all your departments forecast key metrics – there is hidden knowledge in every department to be tapped.
- Turn the distributed knowledge of your employees anywhere into quantitative assessments, instead of just storing employee knowledge in knowledge management systems
- Plus: Have that knowledge updated in real time
Risk management
- How much net credit volume will we build next quarter?
- What will be the average risk factor of our credit portfolio next quarter?
- How likely is a success of the new company restructuring-program?
Market research
- Identify proven lead users in trend forecasting
- CrowdWorx can even collect non-verbal preferences
- Up-to-date results: market research in real-time instead of using results from the last survey 6 months ago
- Quantify results from qualitative market research; attach a numeric assessment to qualitative hypotheses
- Motivate participants with CrowdWorx as a game instead of forcing just another survey on your trusted users
Cross-company collaboration
- Avoid the bull-whip your upstream and downstream partner by having your sales force and suppliers forecast demand collectively.
Economic indicators
- What will be the average economic growth in the next year 5 years?
- What will be economic growth if the new bailout plan is NOT adopted?
- What will be the end-of-year unemployment rate?