The Wisdom of (Expert) Crowds

There is an interesting little article in the September ’07 HBR entitled “The Wisdom of (Expert) Crowds”. Its free for the time being here. The article examines the Delphi method, a research method in which corporations speak to several experts within a field and implement change based on the analysis (the wikipedia entry is quite good as well). The HBR author argues that the strength of the research form lies not in prediction but in the creation of detailed scenarios which the company can monitor after the research has been completed. The article also notes the recent resurgence of this type of research given the heightened level of “connectivity” available in today’s world. I have written in the past on web applications in the “wisdom of the crowds” and predictive market spaces, but none that I am aware of touch directly on this area…