Even though cost forecasting assumes each task is equally costly, it can still be helpful when that is not the case.

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1. Efficient algorithms applied to crowdsourcing
2. Higher accuracy for smaller budgets
3. Useful for dynamic costs

Advantages of Cost Forecasting

Hotaling, A., &amp; Bagrow, J. P. (2020). Efficient crowdsourcing of crowd-generated microtasks. PLOS ONE, 15(12). https://doi.org/10.1371/journal.pone.0244245 

Efficient crowdsourcing of crowd-generated microtasks

Cost forecasting allows the crowdsourcer apply efficient algorithms to crowd-generated microtasks, which lets the crowdsourcer get high quality results even when the set of tasks is open-ended or if the budget is cut short unexpectedly.

Advantages of Cost Forecasting: Efficient Algorithms Applied to Crowdsourcing

Cost forecasting can result in higher accuracy for smaller budgets (≤ ≈5%) because it dynamically determines growth rate with past and current state of crowdsourcing.

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