Paper Type
Complete Research Paper
Description
Today, uncertainty dominates decision making in many areas, such as product introduction, market entry, and research and development (Borison and Hamm, 2010). These strategic decisions often directly affect the success of an organization. Therefore, decision makers seek the best possible information to support their decisions. This paper intends to address the information gap by presenting an innovative Group Wisdom Support System (GWSS) that collects and processes opinions from the crowd. The suggested GWSS not only delivers a consensus view but also delivers an entire forecast distribution plus information on the consensus evolution over time. Additionally, we test the possibility of further optimizing the accuracy of the GWSS by introducing additional variables
RESULTS FROM A GROUP WISDOM SUPPORT SYSTEM
Today, uncertainty dominates decision making in many areas, such as product introduction, market entry, and research and development (Borison and Hamm, 2010). These strategic decisions often directly affect the success of an organization. Therefore, decision makers seek the best possible information to support their decisions. This paper intends to address the information gap by presenting an innovative Group Wisdom Support System (GWSS) that collects and processes opinions from the crowd. The suggested GWSS not only delivers a consensus view but also delivers an entire forecast distribution plus information on the consensus evolution over time. Additionally, we test the possibility of further optimizing the accuracy of the GWSS by introducing additional variables