To forecast quality control issues in their products a US telecommunications hardware manufacturer used prediction markets. Over 200 employees across engineering, sales, marketing and management traded in markets asking about performance of individual hardware components during testing, critical software bugs and factory production problems. Understanding the probabilities of quality control issues earlier in the product development lifecycle helped avoid problems at a later time when they would...
BPIR Categories3.5.1 Test effectiveness of new/revised products/process
2.5.4 Identify and manage risks
5.5.6 Inspections, tests, process/performance audits
5.5.3 Improve process/product performance