Unveiled in June 2018, Fuel Cycle Exchange (FCX) is an insights marketplace that connects the best insights tools, consolidates research efforts across departments, and unifies data across multiple sources. With FCX, the modern researcher now has the means to conduct any type of research on a single platform, no matter the industry or needs of different departments.
To further advance this mission, Fuel Cycle is very pleased to welcome global prediction market leader, Consensus Point, to the marketplace.
Consensus Point’s Huunu platform leverages its validated prediction algorithm to capture the collective judgment or “wisdom” of a community or target audience to predict future trends, evaluate early-stage ideas and concepts, and optimize marketing and brand communications efforts.
Instead of using traditional rating and ranking scales, participants are challenged to “bet” virtual currency on the answers they think are right, and then defend their choices. The more confident they are, the more tokens they bet, and the deeper their qualitative rationale
Truly engaged participants making in-context predictions deliver more actionable results, better differentiation, and consumer voice at scale to back it all up.
Huunu prediction markets are:
- Behavior-based: Found at the intersection of System 1 and 2 research methods, Huunu is powered by a proven prediction market algorithm and the most fundamental elements of behavioral science including judgment, emotion, and confidence.
- Challenging the status quo. Huunu’s global scale and in-context questions improve the quality of insights and advance the speed of results while removing fundamental limitations of traditional survey methods.
- Quali-Quant: Niche opportunities, hidden barriers, and the voice of the consumer are revealed as participants are asked to justify their betting investments with qualitative rationale.
- Validated on Multiple Levels: Consensus Point was the first company to validate prediction market research as an accurate predictor of in-market behavior. Additional validation efforts include a comparison to traditional methods including monadic exposure and Max Diff techniques, sales forecasting and predicting campaign success.
Rick Kelly, Chief Product Officer at Fuel Cycle shared, “Behavioral economics, including prediction markets, have done a demonstrably incredible job at improving researchers’ ability to forecast future outcomes. We’re thrilled to partner with Consensus Point to bring their unique capabilities to our visionary customers.”
Brad Marsh CEO at Consensus Point commented, “Integrating Huunu prediction markets into the Fuel Cycle Exchange represents an important breakthrough in community-based research. This partnership provides insights departments with an efficient, multipurpose platform to capture anticipatory learning and rich qualitative insights in context.”