Mining Data Value of Group Prediction Wisdom in the Era of Big Data

Abstract

When making predictions about an uncertain event, the individual’s ability is always limited and biased. Therefore, in order to predict the outcome of the event, it is necessary to collect prediction data from different individuals to make predictions. The aggregated results of individuals are always better than most individuals, and the performance of the group is called group wisdom. However, due to information technology and space constraints, the data collects is limited under normal circumstances, time-consuming and costly, and the group’s ability to predict is limited. In big data era today, we can collect massive amounts of data that meet the forecasting requirements more quickly, aggregate these data, and through certain data processing methods, we can get the solution of the group, which is generated in this environment. The prediction of the data is often more accurate, and the predictive power of the group is greatly increased.