A correlation between high rankings in consumer review websites and a businesses’ revenues has been established by a study conducted by Michael Luca, a professor of Harvard Business School. Dr. Luca took a close look at the restaurant industry of the city of Seattle and came to the conclusion that a single star attached to a profile of a leading online reviewing platform lead to an incredible 5% to 9% increase in revenues. He further found that there were considerably more restaurant reviews available online than could be found in traditional sources like Zagat or The Seattle Times.
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