Wize.com's CEO Tom Patterson was recently interviewed on Vator.tv.
In the interview Patterson describes how Wize is trying to provide those answers to consumers questions around their purchasing decisions, by crawling the Web and allowing the best products to rise to the top based on a collective showing of virtual hands.
Ezra Roizen goes on to write:
"Wize is the Web 2.0 equivalent of Consumer Reports. Rather than covering a couple thousand products each year (Tom estimates that Consumer Reports covers about 1,500 a year), Wize has the potential to cover an unlimited number. At Wize, we are already tracking around 50,000 individual products on the site, and continue to grow in size and scale.
While Consumer Reports employs a staff of 450 to perform product tests and comparisons, Wize takes a technological approach. It combs the Internet for product references among bloggers, commentators, and reviewers in the open-media community. Wize’s algorithm then interprets these online reviews and creates a single score between 1 and 100 for every product. Wize also aggregates consumer comments from other leading sites like CNET, Amazon, and Buy.com—which adds a nice qualitative touch to the quantitative scoring."
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