The Delphi Method is a technique used to reach a consensus within a group of experts. It is a process of survey-based consultation and decision-making, employed when the decision cannot be easily made due to conflicting opinions, the presence of specialized knowledge, or the lack of knowledge within a particular domain.

The process begins with the selection of a panel of experts with appropriate knowledge and experience relevant to the issue at hand, as well as the establishment of a research agenda. A series of carefully constructed survey questionnaires are then administered to the panel of experts, who respond independently, anonymously and confidentially.

The experts’ responses are process analytically to ascertain shared perspectives and consensus among the group. After the first round of questionnaires, the responses are collated and summarized to allow for comparison and interpretation. These results are then presented to the experts for further discussion and debate. Over the course of two or more rounds, the ‘group response’ is used to obtain consensus on the issues raised.

During each iteration, the experts refer to the original responses as they adjust their answers. This process is continued until the desired consensus is achieved. The questions become more refined with each iteration, and the range of possible answers is reduced, until the participants reach a collective view. Since everyone has a chance to consider the opinions of the other experts, generally, the decision made is one which everyone can agree on.

The Delphi method is a highly beneficial technique in situations where it is necessary to obtain the opinions of experts without the presence of the group. It is especially useful in situations where complex problems need to be solved and decisions of great importance have to be made. This method requires minimal resources and can be used to gather insights from geographically dispersed participants. As such, the Delphi method is an efficient group decision-making process that has gained popularity in various business and academic fields.