Crowdsourced forecasting

Broadspectrum has undertaken a pilot program with one of the latest forward-thinking decision making tools available: its employees.

Commonly referred to as crowdsourced forecasts, we seek to use our people as a means of forecasting a range of outcomes. We conducted a pilot in collaboration with Chicago-based company, Cultivate Labs, with approximately 200 Broadspectrum people representing a wide demographic across the business.

Results from the focused trial supported lengthy, global research suggesting that collective wisdom can be more accurate than relying on several leading minds.

The view is that a crowdsourced forecast is another data point for use in the decision-making process, but it is not the sole decision-making tool. Ultimately, it is one decision maker’s responsibility to weigh-up all the available information when making the decision.

In addition to providing information, crowdsourced forecasting also promotes conversations across the business and increases employee engagement. People consider their opinions carefully, with the perception that they are consultants. They feel they are part of the system, not excluded from it and they become more aware during their daily tasks.

Broadspectrum is open to trialling any new technology or methodology that will improve outcomes for our clients and our business. Crowdsourced forecasting is just one innovation we are exploring to ensure we deliver more efficient, intelligent and suitable solutions.