Pre-Sales, Implementation, & Customer Success

Crowdsourcing the Going Rate

Crowdsourcing the Going Rate

How is the going rate determined anyway?
You can use regression analysis, but with what data and which variables?
When it comes to predictions using fuzzy logic a more-simple solution may be the Knowledge of the Crowds. Asking random people, experts and otherwise, to make predictions of the going rate and the value of different amenities. The more responses you get, the more accurate your prediction will be. This model may be more accurate than a regression equation because of the variation in valuation of amenities in different geographic regions. Recursively, knowing more information about individuals in your crowd will give you the opportunity to tease out the valuation of each amenity to a person in that market.


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