Tap into the wisdom of crowds!
The economic assessment of publications (projects, ideas...) is a valuable tool for assessing the viability of contributions, and benefiting from the "wisdom of crowds".
This functionality is very useful for collaborative innovation, as it allows economic considerations to be taken into account when evaluating contributions, and enables the selection of the most economically viable projects (expected gains, costs, lead times, etc.). It is a complementary feature to ' members reviews and the experts' reviews.
It can be implemented in just a few clicks in any of our Smart Spacesallows your members to easily give their opinion on one of your publications (e.g. a new feature, an idea...), by indicating their estimation:
- development time ⏲️
- of the cost💰
- of anticipated gains 📈
💡 You can easily modify these three standard criteria to use the ones you want! For example: estimate the number of units that will be sold, estimate the evolution of the satisfaction rate, etc.
A great way to benefit from the "wisdom of crowds"!
✅ Predict the success or development time of your innovations
✅ Involve your members in decision-making
✅ Get more reliable estimates
💡 MARYLINK offers a Smart space where this feature is pre-configured! See the Smart space Predictions.
There are several advantages to using this feature:
- Using the "wisdom of crowds": This feature lets you take advantage of the "wisdom of crowds" principle, which suggests that collective estimation can be much more accurate and precise than individual decision-making (or that of a small number of experts). In this way, users can benefit from the collective expertise of the community to make more informed decisions.
- Improved forecast accuracy : By gathering the opinions of multiple evaluators, you can get a more accurate estimate of an idea's feasibility, time to completion, cost and potential earnings.
- Save time and effort: This feature makes it possible to obtain opinions and forecasts quickly and efficiently, without the need for costly surveys or exhaustive research. This can help users save time and effort in their decision-making process.
- Commitment and a sense of belonging : Including your members in the forecasts, and therefore in the decision-making process, makes your processes more open, which in turn fosters member involvement and a sense of active participation in the life of your organization.
It can also help your members better understand the financial considerations involved in implementing their projects and ideas, and adjust them accordingly.
The economic appraisal of projects and ideas can also be used to select the "right" ones. low hanging fruits" In other words, projects that are the most profitable and easily achievable. By entering numerical value fields such as the investment required, the expected results and the time required to complete the proposed projects or ideas, it is possible to calculate the expected return on investment (ROI) and the time required to recoup the investment.
- The more evaluators, the better: the more evaluators there are, the more accurate the forecast.
- Diversity is essential: the more diverse the evaluators, the more accurate the forecast.
- "Keep it to yourself" 🤐 : users should avoid sharing results until the prediction is complete! (note: results are hidden from users until they have submitted their estimates).
Using this information, platform users can identify the projects with the best prospects for profitability and speed of implementation. This feature helps you choose the projects most likely to generate quick results and return their investment quickly, rather than focusing on projects that are more ambitious but less profitable or more difficult to implement.