Definitions by Keion
Wisdom of the Crowds
Ask enough people to estimate something, and the average of their guesses will get you surprisingly close to the right answer.
1)Someone asks you a random question, out of 100%, 90% of the time you may not get that answer.
2)But if that same person asks an audience that same random question, out of 100% of the time when you gather everyone's data or answer 99.99% of the time it's correct. That is the explanation of the phrase "wisdom of the crowds".
2)But if that same person asks an audience that same random question, out of 100% of the time when you gather everyone's data or answer 99.99% of the time it's correct. That is the explanation of the phrase "wisdom of the crowds".
Wisdom of the Crowds by Keion January 19, 2009