Ask AI: Discuss briefly with examples Delphi Method

The Delphi Method is a technique used to arrive at a consensus among a group of experts. It is a common problem solving method used in business, industry and government. The method was developed by a RAND Corporation research project in the 1950's. The process typically begins with the researcher posing a question to the experts, who then independently provide answers or opinions. The researcher, who acts as an intermediary, then collects the responses and collates them into a large report. This report is then distributed back to the experts, who can further refine their answers based on the research. This cycle is repeated a few times until a consensus is reached. For example, a company can use the Delphi Method to identify trends in customer behavior. The researcher would ask a number of experts, such as marketing professionals and industry analysts, for their thoughts on the latest customer trends. The researcher would then compile the responses into a large report and distribute it back to the experts. The experts would then refine their answers based on the new information. This cycle would be repeated until a consensus is reached and the company would have a more solid understanding of customer trends.