PLEASANTON, CA and PALO ALTO, CA--(Marketwire - May 16, 2012) - Spigit, the leader in social innovation software and services, and Aragon Research, a new technology focused research and advisory firm committed to providing thought leading strategic research and trusted advisory services, today announced the launch of the Open Forecast Project, a new market valuation community designed to use the power of the crowd to accurately size and value emerging technology markets. The new community will launch a series of challenges, beginning with Enterprise Social Software, which will tap the crowd to weigh in on proposed solutions for determining the total addressable market for different sectors.
"Measuring the total addressable market is an extremely difficult exercise, especially in emerging markets," said Jim Lundy, founder and CEO, Aragon Research. "With this new community, we're using the power of crowdsourcing to open the previously closed and secret market sizing model to create an accurate, forward-looking valuation of important emerging markets, such as Enterprise Social Software."
The Open Forecast Project will create a new option for valuing companies and market opportunities in a three-phased approach:
- Phase One: Submission and Valuation: Beginning on Wednesday, May 16th, the Enterprise Social Software market valuation community opens to select guests including investors, analysts, chief marketing officers and market makers. Guests will have until May 26th to post valuations and logic, to garner comments and votes and to rack up points to spend in the online store or to invest in the stock market in phase two.
- Phase Two: The Game: Beginning on Tuesday, May 22nd, the stock market on the site will open so that participants can invest in different estimates in order to create a weighted average of the top valuations. Finally, on Saturday, May 26th, the participant with the highest participation based on points and the participant with the highest reputation will be eligible to win an iPad.
- Phase Three: Extending the Crowd: On Tuesday, May 29th, the market will reopen to the public allowing anyone to register, trade in the different valuations and earn points that can be used in the online store. This phase will run through Friday, June 1st.
"We're applying Spigit's social innovation framework to create a new, crowd-driven method for quantifying market opportunities," said Paul Pluschkell, CEO and founder, Spigit. "By gathering and vetting qualified experts' valuations and the logic behind them, we are sure that we can minimize uncertainty that exists in the question of total addressable market in emerging sectors."
Whether a startup vying for funding, an investor assessing a new opportunity, or an analyst advising both parties, the total addressable market and revenue opportunities available for a product or service can help prioritize business opportunities. The Open Forecast Project will use the collective intelligence of Spigit and Aragon's investor and analyst community, as well as the feedback and voting of the crowd to help identify the value of new markets.
To learn more about Spigit and Aragon's Open Forecast Project and to get started with Enterprise Social Software valuations, voting, or to learn how you can get the results visit https://main.aragon.spigit.com.
Diversity of insight is often the source of the most innovative solutions. Spigit is a platform that enables organizations to tap into the collective intelligence of employees, customers, partners and fans to help tackle business objectives.
By incorporating game mechanics, Spigit first engages your people at scale. Using social algorithms Spigit then leverages this crowd to do the heavy lifting and surface and vet the most promising ideas through collaboration. Finally, with big data analytics Spigit pinpoints actionable and predictive information that drives results.
The largest and most innovative companies in the world use Spigit including Overstock.com, AAA, US Bank, City of New York, Estee Lauder and Capgemini. For more information about how you can enable crowd innovation for your enterprise, visit www.Spigit.com, email firstname.lastname@example.org or call 1-855-SPIGIT1.
About Aragon Research
Aragon Research is the newest technology research and advisory firm. Aragon delivers high impact research and advisory services to provide enterprises the insight they need to help them make better technology and strategy decisions. Aragon Research serves business and IT leaders covering the Knowledge, Collaboration, Social, Content Management, Workplace, Mobile and Tablet, and User Experience/Portal markets. The principals hold over 50 years of industry experience between them. Aragon Research is privately held. For more information, visit https://www.aragonresearch.com.