Management teams are responsible for making sense of complex questions. Maybe it’s estimating how much a market will grow next year, or finding the best strategy to beat a competitor. One popular approach for navigating these questions is turning to the “wisdom of crowds” – asking many people for their opinions and suggestions, and then combining them to form the best overall decision. Evidence suggests that the combination of multiple, independent judgments is often more accurate than even an expert’s individual judgment.
DeWees, Brad, and Julia A. Minson. "The Right Way to Use the Wisdom of Crowds." Harvard Business Review .