Huunu Picks Election Winners: Top Media Outlets A-buzz about Prediction Market’s Speed, Precision and Un-matched Election Results
The Ticker, a prediction market powered by Huunu, outperformed traditional methods used to forecast election results. Media is writing about prediction markets as powerful predictive tools.
Nashville, Tennessee (PRWEB) December 19, 2012
Media outlets like Bloomberg, MSN and Reuters are all taking note and singing the praises of prediction markets — pointing out that while traditional polls portrayed the presidential race as a toss-up, next-generation prediction market platforms consistently forecasted a decisive victory for Obama well in advance of the election. Huunu, the Consensus Point prediction market, also accurately reported the outcomes for the House, and Senate, with speed and precision.
The Ticker, a stock market-style game in partnership with Gannett and powered by Huunu, was used to engage a diverse community consisting of several hundred, who were asked questions, “Will Barack Obama win Ohio?” and “Will the Republicans control the House after the 2012 Election?” The community predicted with a 96% certainty that Republicans would control the House of Representatives after the 2012 Election and a 68% certainty that Obama would win Ohio. The predictions were earlier and more consistent, even maintaining odds over 60% for an Obama Presidential win for the entire two-month period leading up to Election Day.
Linda Rebrovick, Consensus Point CEO commented on the results, “Prediction markets are redefining this industry, and the election results provided a showcase for the power of Huunu. Whether it’s an election or a targeted business initiative, Huunu provides valuable intelligence in a cost efficient manner.” With similar efficiency, prediction markets have proven high-value in many other fields, including market research and business intelligence, among others.
The power of Huunu is differentiated by an unmatched ability to engage communities, which ultimately leads to better information.
About Consensus Point: Consensus Point, a leading software as a service company, is revolutionizing market research to optimize the speed, precision and value of online communities. Our next generation predictive solutions are used by innovative market research, expert network, and consulting organizations to produce the highest quality outcomes and create new revenue streams. Consensus Point partners serve the worlds leading brands, such as P&G, General Mills, Lilly, and Disney, to choose new products and forecast market intelligence.
About Huunu: Huunu combines social gaming techniques and our prediction market algorithm for market research, expert network, and consulting organizations. Benchmarks have proven Huunu accurately predicts future outcomes, such as concept testing and product forecasts, and is more efficient and valuable than many conventional market research methods. By improving the engagement of online communities, Huunu extracts knowledge with precision, accuracy and speed.
Huunu is a cloud-based social prediction market analytics platform powered by Consensus Point.
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