The Delphi method is a systematic method for acquiring feedback from multistage processes which serves as a means to assess future events, trends, techinical developments and the like. This surveying is answered by a panel of experts and the information is narrowed down with each correction of the original answers until consensus is reached as the range of answers decreases.
Delphi is based on the principle that forecasts (or decisions) from a structured group of individuals are more accurate than those from unstructured groups. The technique can also be adapted for use in face-to-face meetings, and is then called mini-Delphi or Estimate-Talk-Estimate (ETE). Delphi has been widely used for business forecasting such as market research and has certain advantages over another structured forecasting approach, prediction markets
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