Social forecasting is a
crowdsourcing
Crowdsourcing involves a large group of dispersed participants contributing or producing goods or services—including ideas, votes, micro-tasks, and finances—for payment or as volunteers. Contemporary crowdsourcing often involves digita ...
approach, the aim of which is to aggregate the distributed knowledge of employees and experts and convert it into quantifiable business indicators, which are then available to the company management.
One of the earliest attempts to study social forecasting and its theory were made by Adolf Bauer and Wolfgang Eichhorn in 1968.
References
{{Authority control
Crowdsourcing
Forecasting
Knowledge management