SAN FRANCISCO, CA–(Marketwire – Sep 18, 2012) – Spigit, the global leader in Social Innovation Software, today announced it has acquired San Francisco based Crowdcast, the company that defined Social Business Intelligence. Spigit with Crowdcast transforms innovation into a predictable discipline with the business rigor traditionally associated with Marketing, Accounting, or Sales. For the first time, leaders can plan, visualize and manage the entire innovation pipeline.

With Crowdcast, chosen as one of the world’s most innovative companies by MIT’s Tech Review in 2011, Spigit has the only solution capable of turning ideas into real investment opportunities. Now companies can use crowd-driven predictive analytics to generate innovative ideas and usher those ideas through to execution with predictable ROI.

“There is a renaissance underway in the Social Innovation software market,” said Paul Pluschkell, Founder and CEO of Spigit. ”Social Innovation 2.0 moves beyond idea capture and into execution. With the Crowdcast team and technology, we add a critical piece of the innovation process — leveraging the crowd to determine the return on innovation.”

Social Business Intelligence is ideally suited for tasks historically requiring the manual work of an expensive business analyst or expert such as forecasting product sales or cost estimates. Spigit’s social innovation products with Crowdcast technology can:

• Forecast and combine multiple metrics into fundable business cases that leaders can act on directly.
• Deliver verified estimates leveraging the crowd that are as good as or better than estimates from traditional sources, such as analysts.
• Manage innovation investment as a portfolio, reducing risk and maximizing returns.

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