Picture it Settled - Product Demo
Presented by Don Philbin
Moneyball for Negotiation: Predicting Future Behavior – Acting on the Intelligence
Is this going anywhere?
Where are they headed?
Where will they go if we move to $X?
How do I get to $X by 5:00 p.m. without causing impasse?
Since the Pharaohs’ day, marketers have studied human behavior and acted on that intelligence to increase sales. Playing French music in a British wine store increases the sale of French wine. Change to German music, and watch German wine sales increase. Introduce a more expensive bread maker and sales of the lower priced version double as the more expensive price point makes it look like a bargain at the same old price.
But are the hidden patterns of negotiation predictable? We’ve developed behavioral software that has learned negotiating patterns from parties to thousands of litigated cases covering most jurisdictions and claim types. Picture It Settled® is Moneyball for negotiation.
Picture It Settled® predicted the outcome of an IP dispute within 3.5% after just two rounds – and those predictions improved with additional offer data (17 total rounds). In another published case study of a business dispute, the software predicted the individual dollar moves within 3.5% and the ultimate outcome within 3% after just three rounds.
That’s news the negotiator can use. If you know where your opponent is headed, you can tweak your own game plan. By constantly inputting offer data and updating realistic targets in the game-like interface, users are able to increase their settlement rates by using a data-informed negotiation strategy. Picture It Settled® doesn’t replace the well-honed intuition of the parties, it adds a scope to their gun.
Picture It Settled® is Moneyball for negotiation. The behavioral software has learned negotiating patterns from parties to thousands of litigated cases in a wide variety of jurisdictions and claim types.