How Reliable are Those Yelp Reviews?

Amazon, Yelp and similar sites rely on customer reviews to help users with their purchases. A nagging concern of shoppers, however, is how reliable these critiques are. I’m sure, you too, have wondered this-Right?

Bundle,  is a New York City based start-up and has turned to a source it deems more objective: credit card data. Bundle receives data on credit card transactions from Citi, one of its investors. The data is stripped of personal details, but every cardholder is tagged with a unique identifier so spending can be tracked. 

The data also retain demographic informaiton such as salary, marital status and household size. Bundle then compares each transaction against a comercially available list of of 15 million merchants that accept credit cards, which includes the merchants locations. The idea according to Bundle CEO Jaidev Shergill is:

To see people putting money where their mouth is

Wow, when I wrote a recent post about Data Scientists being the hot job of the century; I didn’t realize how sophisticated data mining has become!

Do you rely on Yelp and Amazon reviews when making purchase decisions?

Full article: New Ratings Site Mines Credit Card Data

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