Innovation In Compliance With Tom Fox

What if you could create a team that would dramatically improve your company's forecasting ability? But to do so, you must expose those professional corporate forecasters' unreliability. Would you do it? Here for Part 2 of the five-part Innovation in Compliance series, Tom shares his insight into "superforecasting" and its role in compliance functions. Forecasting is the predictive capability organizations use to anticipate or enhance outcomes. The new "superforecasting" movement, led by Philip E. Tetlock and others, aims to enhance this capability even further by following four precepts.To frame the precepts, in a recent Harvard Business Review (HBR) article by Tetlock and Paul J. H. Schoemaker, entitled “Superforecasting: How to Upgrade Your Company’s Judgment,” the authors revealed three general observations: “Talented generalists can outperform specialists in making forecasts.”   “Carefully crafted training can enhance predictive acumen.”    “Well-run teams can outperform ind