University of Iowa Democrats and Predictify Team Up to Prepare for Presidential Election

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Influential Student Organization Taps Collective Wisdom of Internet Users to Prepare for Visiting Presidential Candidates

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Predictify gives us a perspective that polls can't provide. We'll use that perspective to create questions for our event and directly engage the presidential candidates on issues that affect America's youth.

In preparation for its first multi-candidate campus visit, the University of Iowa Democrats today announced a partnership with Predictify to predict the likely outcomes of the much-anticipated political events of 2008. As part of the deal, the University of Iowa Democrats will post a series of questions on Predictify about upcoming electoral events, including the Iowa Caucuses. The resulting data will be used to formulate questions for candidates attending the student group's Presidential Talk Back, taking place on December 8th.

"Given the importance of the Iowa Caucuses, getting insight into what's likely to happen is tremendously valuable," said Iowa Democrats President, Atul Nakhasi. "Predictify gives us a perspective that polls can't provide. We'll use that perspective to create questions for our event and directly engage the presidential candidates on issues that affect America's youth."

An umbrella organization for campus Democrat clubs, the University of Iowa Democrats has become a crucial player in the Iowa caucuses, where the first electoral delegates in the 2008 presidential campaign will be chosen. The influential student group has already played host to six presidential candidates in the last four months, including Hillary Clinton, Barack Obama and John Edwards.

To gather proprietary data on upcoming political events, the University of Iowa Democrats turned to Predictify, a prediction platform that taps into the collective wisdom of Internet users to make powerful predictions. Predictify asks members to consider the likely outcome of an event, which often results in a more accurate prediction than polls or surveys based on personal preferences.

"Collective predictions have a long history of outperforming surveys and polls, especially in politics," said Parker Barrile, founder and CEO of Predictify. For example, Predictify users recently outperformed economists surveyed by Thomson Financial in predicting the October 2007 Consumer Confidence Index. Predictify users predicted an index level of 98.9, while the economists predicted 99.4; the actual outcome was 95.6.

Unlike prediction markets, Predictify uses a simple question-and-answer model to capture the full distribution of predictions, not just the average. Anyone can sign up to be a member, post their own questions and analyze the results with easy-to-use graphical tools. Members can also find events that interest them, predict the outcome, build a reputation based on accuracy and even get paid real money when they're right. Best of all, it's free to predict - no points or bets are required.

The first two questions posted by the University of Iowa Democrats on Predictify are:

  •     Who will win the Iowa Republican Caucus on January 3rd, 2008?
  •     Who will win the Iowa Democratic Caucus on January 3rd, 2008?

There are several more questions to come. Those interested in becoming a part of this phenomenon can sign up on http://www.predictify.com to start predicting today.

About Predictify
Studies have shown that large groups of regular people are often more accurate than a small group of experts at predicting the outcome of future events. Predictify is a prediction platform that harnesses this collective wisdom and makes predicting easy and fun. Predictify is based in Menlo Park, Calif., and can be found on the Web at http://www.predictify.com.

About University of Iowa Democrats
The University of Iowa Democrats, with over 1,200 members, serves as an umbrella organization for campus student groups focused on Democratic politics. The club supports Democratic Party initiatives but does not usually endorse a particular candidate. The University of Iowa Democrats can be found on the Web at http://www.uiowa.edu/~udems/.

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