{"id":135,"date":"2008-03-25T13:00:36","date_gmt":"2008-03-25T21:00:36","guid":{"rendered":"http:\/\/web2innovations.com\/money\/2008\/03\/25\/wisdom-of-the-crowds-principle-effectively-applied-to-predict-markets-events\/"},"modified":"2008-03-25T13:00:36","modified_gmt":"2008-03-25T21:00:36","slug":"wisdom-of-the-crowds-principle-effectively-applied-to-predict-markets-events","status":"publish","type":"post","link":"https:\/\/web2innovations.com\/money\/2008\/03\/25\/wisdom-of-the-crowds-principle-effectively-applied-to-predict-markets-events\/","title":{"rendered":"Wisdom of the crowds principle effectively applied to predict markets, events"},"content":{"rendered":"

While doing our daily research on the web 2.0 deals we came across a very interesting start up that deserves to make our web 2.0 innovations list – Predictify<\/a>.<\/p>\n

Essentially it is a very interesting and pretty innovative idea of using the wisdom of the crowds<\/a> and the collective intelligence<\/a> principles to predict in behalf of advertisers and market researchers. It is community-driven prediction <\/a>market that pays and rewards users for their accuracy, which guarantees user engagement at higher level.<\/p>\n

We\u00e2\u20ac\u2122ve found out the site has launched just this last October and since then it launched its platform where other companies can create co-branded prediction centers. Freakanomics was Predictify\u00e2\u20ac\u2122s launch partner for the platform, where readers can predict outcomes discussed on the Freakonomics blog.<\/p>\n

The company has announced today it has closed $4.3 million round of funding<\/a>, from Sierra Ventures<\/a> and Sherpalo Ventures<\/a>. Mark Fernandes<\/strong>, a managing director at Sierra Ventures, will be joining the Predictify board. Predictify has taken so far only an angel round of funding<\/a> a year ago, but the amount is not publicly disclosed.<\/p>\n

More about Predictify<\/strong><\/p>\n

Predictify<\/a> is a prediction platform where users can predict the future and build a reputation based on their accuracy, and marketers can post questions to collect actionable, forward-looking data \u00e2\u20ac\u0153from the crowd\u00e2\u20ac\u009d.<\/p>\n

Predictors
\nPredictify provides a simple, fun way to predict the future. You can research, discuss and predict what will happen, build a reputation based on your accuracy, and even get paid real money when you’re right (tell me more). Best of all, it\u00e2\u20ac\u2122s free \u00e2\u20ac\u201c no points or bets required.<\/p>\n

Advertisers
\nPredictify is an effective way to create interactive advertisements by posting a question related to your product or service. Users’ incentive to be accurate leads to a high level of engagement in your marketing message. The resulting data set, which includes demographic information, provides insight into the preferences of existing and potential customer segments.<\/p>\n

Market Researchers
\nPredictify uses advanced statistical methods to identify experts among their users based on past predictive accuracy, and combines this with demographic information to provide unique, crowd-based insight. You can tap into this user base to collect a large sample of predictions about future events, trends, and market data. Predictify\u00e2\u20ac\u2122s unique system captures the full distribution of beliefs, not just the average, and provides easy-to-use graphical tools to analyze the results.<\/p>\n

Here is quickly how it works<\/strong><\/p>\n

Predictify<\/a> is a prediction platform where users can predict the future and build a reputation based on their accuracy, and marketers can post questions to collect actionable, forward-looking data \u00e2\u20ac\u0153from the crowd\u00e2\u20ac\u009d.<\/p>\n

Submit a Prediction<\/p>\n