Facebook's Crowdsourced Prediction Service “Forecast” is Now Widely Available in North America

A big business for a lot of people to invest in has to do with the forecast market. People that know how trends usually tend to work can often look at the indicators that are currently present and make predictions about where markets will go in the future. Facebook's Forecast is an app that has been allowing a crowdsourced version of such a phenomenon to end up occurring, and its initial test has revealed that the information that people put in has a tendency to be rather accurate which is something that might just become even more common when more people start using the service.

This app can be used to predict all kinds of things such as the results of the US election, and while it’s true that there is no way to actually predict the future without a shadow of a doubt, at the end of the day a prediction model such as this which is based on massive amounts of data, input as well as insight has the potential to be a real game changer and it can change the decisions that people eventually end up making.

After a successful test run, Forecast is about to become widely available to people living in the US and Canada. It will be interesting to see how this service gets utilized, and the fact that it is being rolled out so widely so close to the US election is something that is going to have a definite impact. If the insights that people put on the app end up accurately predicting the outcome of the US election then this could lend the app quite a bit of credibility. Hence, the election is going to be a key litmus test for the app, one that could determine whether or not people trust it.

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