Collective Wisdom Solutions - Qmarkets, Noam Danon

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Collective Wisdom Solutions - Qmarkets, Noam Danon by Mind Map: Collective Wisdom Solutions - Qmarkets, Noam Danon

1. Annual process involving all employees

2. Raise challenges (Campaigns) for solutions to specific subjects

3. About

3.1. CEO of Qmarkets

3.1.1. Build software tools to enable large organizations to leverage Wisdom of the Crowds

3.2. Goal:

3.2.1. Make better decisions

3.3. [email protected]

4. How do large organisations do this?

4.1. context

4.1.1. Plenty of information

4.1.2. ony 20%-30% of it is used when needed

4.1.3. how do you get to the right information on the right time?

4.1.3.1. get the proffessional opinion of relevant employees on spefic subjects

4.1.4. how to let the "lowest" employee state his opinion on challenges relevant to his work

4.1.5. how to predict accurately the success of products

4.1.6. how to envolve 500 or 50K people without getting lost?

4.1.7. The goal:

4.1.7.1. better decisions

4.2. tools used

4.2.1. Prediction markets

4.2.1.1. for

4.2.1.1.1. improve company predictions using collective intelligence

4.2.1.1.2. market analysis

4.2.1.1.3. sales prediction

4.2.1.1.4. risk management

4.2.1.2. audience

4.2.1.2.1. employees

4.2.1.2.2. customers

4.2.1.2.3. Untitled

4.2.2. Discussion & Ideas managemt

4.2.2.1. Involve a large group in the process of discovery of ideas & solutions

5. Case Studies

5.1. Merck

5.1.1. For finding 5 products for next year

5.1.2. The process

5.1.2.1. Thinking teams gather ideas & post in portal

5.1.2.2. Initial filtering by content experts & executives

5.1.2.3. Ideas are returned to their owners for improvement

5.1.2.3.1. Present it so that any employee will understand it

5.1.2.4. Bring all final ideas to a simplified prediction market of 40K employees

5.1.3. Prediction market

5.1.3.1. Every employees is given budget of virtual money to split in the ideas

5.1.3.2. They can see all details on the ideas

5.1.3.3. Simple UI for doing this

5.1.3.4. After 2 weeks, management get full information for making the decision

5.2. Universal Music

5.2.1. Goal

5.2.1.1. continuously discover the best products & solutions the company can come up with

5.2.2. The process

5.2.2.1. Invite all relevant employees to online brainstorm

5.2.2.2. Distributed process for filtering

5.2.2.3. Bring the best ideas to the virtual Review commitee

5.2.3. Use Gamification

5.2.3.1. points for employees involvement & activity, with monthly awards

5.2.3.2. appointing leaders

5.3. Campbell's

5.3.1. Goal

5.3.1.1. Choose the most effective campaign

5.3.2. The method

5.3.2.1. Prediction market using the product customers

5.3.3. The process

5.3.3.1. Give customers virtual stocks

5.3.3.2. Ask them to invest in campaigns, according to probability of success

5.3.3.3. They risk their virtual stocks similar to real investment

5.3.4. Delivers very accurate predictions

5.4. Education NGO: ח' זה חינוך

5.4.1. Web site with Wisdom of the Crowds tools

5.4.2. Goal

5.4.2.1. Build an education vision for Israel

5.4.3. The proces

5.4.3.1. Brainstorming open to all citizens

5.4.3.2. Token voting for subject prioritization

5.4.3.3. Virtual round tables

5.4.3.4. Online voting for all citizens

5.4.4. Virtual Round tables

5.4.4.1. Funnel based

5.4.4.1.1. The system divides randomly the participants to virtual tables

5.4.4.1.2. Allocated time to select 1 vision statement & 1 representative

5.4.4.1.3. Then iterate with the smaller set of people

5.4.4.1.4. Till you end up with tens of statements

5.4.5. Unlike the commercial organization, there's 0 moderation

5.4.6. 1st stage starts in few weeks

5.5. EDF

5.5.1. Largest energy company in Europe

5.5.2. Goal

5.5.2.1. Improve internal processes & efficiency

5.5.3. The process

5.5.3.1. 2K management employees

5.5.3.2. 60% participation

5.5.3.3. 1350 ideas raised in 9 months

5.5.3.4. 138 approved

5.5.3.5. 59 executed

5.5.3.6. Value of the approved ideas

5.5.3.6.1. 11M pound

6. Summary

6.1. There are many organizations using these tools with great success

6.2. Every organization adjusts the usage to his own goals & culture

6.2.1. different levels of participation

6.3. More & more adoption

7. what am i