Newsweek’s Tony Dokoupil has an interesting article suggesting that era of wisdom of crowds is fast becoming the past. We at BooRah, don’t think so!
Recently, I wrote an extensive article titled what beats Zagat? that discusses Restaurant Ratings and Reviews on BooRah. It provides one explanation on how automated systems can leverage content created by the crowd and can perform much better against, so called experts. At the end of the day there is no right or wrong but there are two aspects to be looked at.
- Can the experts be better than a collective group, ie. wisdom of crowd?
- Can the experts provide the level of coverage that a crowd can?
A case can be made that experts have been the single voice and thereby perceived as the authority for a long time. Many reviews for movies, restaurants and events were rated by experts and they could make or break the business through their influential commentary, even though many of us disagreed with the expert. What the Internet has done is democratized the influence process. If I can trust my friend Joe more than Michael Bauer, that’s my choice, but at least I have a choice. At the end of the day, that’s always a good thing.
As for coverage, no expert/system of experts can come close to contributions from getting the masses involved. The level of participation depends on the complexity and pervasive nature of subject in discussion. E.g, for restaurants or movies, the crowds can be a lot more effective than any one expert who can can only cover a small fraction of the domain.