CNN Money<\/em>.<\/p>\n\u201cThe whole point of Estimize is that if you collect all of this estimate data from a much wider population of individuals who are not just at banks, a couple of things should happen,\u201d says Drogen. \u201cFirst of all, you should get a wider dispersion of estimates and a more accurate consensus based on the wisdom of crowds. When you collect the data in this manner, you get a data set that better represents the truer expectations of the market.\u201d<\/p>\n
At the moment the website is free, but Estimize will soon be rolling out a premium platform.<\/p>\n
\u201cWe’re building all sorts of premium analytics, and screening and filtering derivative data,\u201d says Drogen. \u201cThis will provide a lot of insight into the data that\u2019s contributed to the platform.\u201d<\/p>\n
For now, anyone can continue to utilize the free platform and contribute their knowledge about the financial world. It doesn\u2019t matter whether a person is a first-year student studying finance or a seasoned trader with decades of experience. What really counts is the accuracy of their predictions.<\/p>\n
\u201cYou can validate the quality of the data not through identity of the person but through statistics,\u201d said Drogen. \u201cWe run algorithms to see who knows what they\u2019re talking about. We see user behavior, including how long they spent on the pages and how many times they changed their estimates, and through all of this data we build behavioral models and decide, \u2018Do we trust this analyst?\u2019 It gets rid of the need for identity.\u201d<\/p>\n
Photo credit: Lauren Kallen<\/p>\n","protected":false},"excerpt":{"rendered":"
When Leigh Drogen was working as a quantitative trader, he realized that there had to be a better way to predict which stocks would be profitable. The estimates from bank analysts, he knew, weren\u2019t always accurate. So Drogen decided that he wanted to provide traders and investors, whether they did it as a hobby or […]<\/p>\n","protected":false},"author":1498,"featured_media":13492,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43902],"tags":[],"class_list":["post-13258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-professional-development"],"acf":[],"yoast_head":"\n
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