Storage Markets Trades on Prediction Technology

By Elizabeth Millard  |  Posted 10-30-2006
Is it possible to predict trends in the storage industry in the same way that pollsters and stock traders track shifts in voter sentiment and financial markets? If a new Web site is correct, enterprises will soon be able to see changes in the data storage industry with more long-term perspective.

Storage Markets relies on the model of prediction markets, in which participants "trade" on unknown future events.

The model has been used to more accurately predict election results and to create other virtual stock markets. For example, the Hollywood Stock Exchange, which supplies the technology backbone for Storage Markets, has created similar prediction markets for entertainment and pharmaceutical companies and government entities.

Founded by industry veterans John Ives and Rich Pappas, Storage Markets brings together the opinions of storage professionals in a range of roles, from IT managers to storage software developers.

These "traders" log on to predict industry trends or ask questions for other traders to opine about, such as whether certain product upgrades are needed.

Read the full story on eWEEK.com: Storage Markets Trades on Prediction Technology