If there is a pressing need to know about some new product in the market or necessity to get someone’s opinion to confirm what is already known; if there is a desire for the best brand in the market or a need to know what’s cost-effective, ask the crowd to get their opinion! The wisdom of crowds is the categorical key to such decision-making.
Collective opinion of people is often considered smarter than the opinion of a single expert. But putting this wisdom of crowds to the best of use is the challenge. Without internet, it’s impracticable to go around the city asking people for opinions about a product or a service, movie or soap opera, fashion or fad… With internet, getting the wisdom of crowds is a breeze. Online encyclopedias, blogs, review sites offer the crowd’s opinion on any conceivable subject matter.