the ultimate wisdom of crowds platform by clupedia
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DESCRIPTIONThe wisdom of crowds – the collective opinion of people about something – is obviously quite valuable, and arguably, often more valuable than the opinion of a single expert, even though admittedly, it is not always the case. If properly harnessed, the wisdom of crowds has the potential of becoming one of the most ubiquitous applications because it applies to anything and to anyone.
- 1.Clues from Crowds White PaperThe Ultimate Wisdom of Crowds Platform
2. White PaperThe Ultimate Wisdom of Crowds Platform Dr. David Saad Founder, Chairman, and Chief Executive Officer (CEO)David.email@example.com April 2008 NoticeThe information contained in this document reflects Clupedias current view of the subject matter discussed herein as of the date ofpublication. This document is subject to changes and, therefore, it shall not be construed as a commitment by Clupedia who does notguarantee the accuracy or completeness of any information contained in this document after the date of publication.THIS WHITE PAPER IS PROVIDED AS IS FOR INFORMATIONAL PURPOSES ONLY. CLUPEDIA MAKES NO WARRANTIES,EXPRESS OR IMPLIED, WITH RESPECT TO THIS DOCUMENT, AND EXPRESSLY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES,INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,AND NON-INFRINGEMENT.Clupedia may have patents, patent applications, trademarks, copyrights, or other intellectual property rights covering the contents of thisdocument, and Clupedia and its licensors retain all right, title, and interest in and to such intellectual property rights. Except as expresslyprovided in a written agreement between you and Clupedia, the furnishing of this document does not grant you any license, express orimplied, to any such patents, patent applications, trademarks, copyrights, or other intellectual property of Clupedia.Clupedia is a trademark of Clupedia Corporation protected by the laws of the United States and other countries. This white paper maycontain some references to trademarks owned by entities other than Clupedia, and such trademarks are the property of their respectiveowners.2 3. 1. Summary...................................................................42. Needs......................................................... 63. Current Solutions................................13 4. Proposed Solution...........................14. Future Solutions.............................. 26 6. Users...............................................297. Conclusion.............................................. 318. References................................................................ 323 4. Summary1. SummaryThe wisdom of crowds the collective opinion of people about something is obviously quite valuable, and arguably,often more valuable than the opinion of a single expert, even though admittedly, it is not always the case.If properly harnessed, the wisdom of crowds has the potential of becoming one of the most ubiquitous applicationsbecause it applies to anything and to anyone.An ultimate platform that covers all the different functionsof the wisdom of crowds along with a comprehensive set offeatures that address the needs of all constituents; controlledby the crowd for the crowd with a sophisticated meritocracysystem; wrapped up with a very rich user experience; anddelivered with great elegance and convenience at anypoint of interest, from any source, on any device, and inany format; will have a dramatic transformative impact onboth the online world as well as the mobile sphere. 4 5. Currently, the wisdom of crowds is limited to just products and services. It is also limited to just ratings and reviews,expressed in just text format, manipulated by biased opinions, and accessible at a destination website. Well, that isnot exactly a wisdom, and is hardly from the crowd. For example, you would have to perform some impressivesearching gymnastics in order to collect the wisdom of the crowds about abortion, recession, dieting, car pooling,globalwarming, United Nations, Madonna, etc. Assuming that you manage to avoid drowning in all the clutter, youmay luckily find an article here or a blog there, but whatever you may find would most probably be limited and tainted,not to mention irrelevant.After defining the needs of the different constituents including consumers, influencers, marketers, and advertising net-works, and describing the limitations of the current solutions, we proposed an ultimate platform capable of changingconsumers behavior, and making our digital world (both online and mobile) much more connected, convenient, collabo-rative, and informative. This proposed platform supports: All functions related to the wisdom of crowds including clueing, defining, annotating, tagging, linking, bookmarking, surfing, and blogging. All types of opinions, referred to as clues, including ratings, reviews, pros, cons, recommendations to consum- ers, and suggestions to manufacturers. All subjects to be clued, from products to politics and everything in between. All formats including text, rich text, audio, and video. All devices including toolbars, widgets, websites, and mobile units. All sources from which clues can be aggregated. A meritocracy system established by the crowd for the crowd. A reward system which encourages participation and cements loyalty. Propagation of clues from somewhere, anywhere, to everywhere. Such instant diffusion of opinions changes consumers behavior and transforms the current advertising model from being property-centric to word-centric. Thus, context-driven ads travel alongside clues, and are no longer restricted to be placed at specific proper- ties.Furthermore, the proposed platform offers industrial robustness with high scalability, reliability, fault-tolerance, loadbalancing, multi-threading, privacy, and security, which are all achieved with a Service Oriented Architecture (SOA)diverging away from the conventional 3-tier architecture necessary for large distributed systems. The justification ofthe SOA architecture is the need to offer an open platform which includes an Application Programming Interface (API)based on web services which allow independent developers to integrate their own functions within the platform.Finally, with all such properties, the proposed platform is well-positioned to monetize the wisdom of crowds, whicheventually secures its legitimacy.Despite such an ambitious blueprint, the proposed ultimate platform, even though ideal for the time being, is not withoutits own limitations, which led us to propose future developments. 6. Needs2. NeedsIn the real world, like packed animals, people rely on each other to survive and thrive. We count on other peoplesrecommendations to help us make decisions. Imitating and herding is a safe Darwinian bet that is wired in our genes.Whether it is chosen or imposed, and whether it is a sense of belonging or the desire to be productive by cutting throughthe clutter, we are infected by memes that define who we are. Those memes range from gestures that we make,expressions that we use, political candidates that we elect, food that we eat, songs that we sing, cloths that we wear,cars that we drive, books that we read, websites that we visit, etc. Such behavior is so ingrain in us that we carry it, notjust in our real world, but the online one as well.Moreover, herds feed on themselves. As a herdgets larger, the probability of theherd of getting even larger and larger is verylikely. Putting it differently, therich often gets richer. This phenomenonis referred to as the SmallWorld in network theory. 6 7. The rational goes something like this: If so many people do X, then they cant be all wrong. If so and so chose Y, then they must be right. Nobody ever got burned for buying X from Y. Better be judged by a jury than a judge who has 0% chance to get it wrong despite his/her legal experienceand expertise, while jurists have the opportunity to debate their differences and reach the right judgment with ahigher probability than a single judge. If you run into a group of people on the street who are all looking up the sky, the more there are people lookingup, the higher probability that you would do the same. Nobody has figured out yet how fashion trends start and last, but out of the blue, staring at each other, we realizeall of a sudden that we are all wearing jeans. Financial markets go up and down based on which direction the herd is heading and not necessarily based onfundamentals.The wisdom of crowds, which consists of the collective opinions of people, is often more right than the opinion of a singleexpert. Indeed, the diversity of opinions within crowds is what makes the wisdom of crowds works in the majority ofcases. Arguably, our intuition is often influenced, consciously or otherwise, by the wisdom of crowds. That is not to saythat the opinions of experts should be ignored far from it. For example, if you need to have a surgery, relying on thewisdom of crowds might be the kiss of death.At the very beginning of its existence, the online world was spongingbehaviors from the real world. As the online world was getting largerin breadth and depth, and as the next billion of web citizens join thedigital revolution, the roles will gradually reverse the online worldwill be influencing the real world as to whats in and whats out, andwhats hot and whats not because the online world is becomingincreasingly more convenient, connected, collaborative,informative, influential, and measurable. In short, the wisdomof crowds has already entered the mainstream and is about tobecome one of the most ubiquitous applications. Therefore,there is a need for an ultimate platform that can harness thewisdom of crowds and deliver it to people on a silver platter withgreat ease, convenience, elegance, and style. 7 8. 2.1. Needs of ConsumersOn one hand, people are hungry for knowledge, yet onanother hand, they are drowning in a sea of irrelevantinformation. Sniffing through such clutter has becomequite challenging.Assume that you are interested in a brand new product.What you dont know about this new product might N eeds of Consumershurt you. After reading few brochures and watchingdemonstrations from the manufacturer, you now wantto get the opinions of people who are using it.Your very first logical step is t