Various embodiments quantify herding effects in one or more collective rating systems. In one embodiment, a set of historical rating data associated with at least one rated entity and generated by a collective rating system is obtained. The set of historical rating data at least includes a sequence of ratings and a distribution of ratings in the sequence of ratings at each of a set of rating-levels. An optimal setting for each of a set of parameters and at least one function associated with a prediction-based model is calculated utilizing the set of historical rating data, where each of the optimal settings satisfies an optimization threshold. The prediction-based model is configured with the optimal setting for each of the set of parameters and at least one function. A set of modeling data is generated based on the configured prediction-based model and the set of historical rating data.
Please help me write a proper abstract based on the patent claims. CLAIM: 1. A method for quantifying herding effects in one or more collective rating systems, the method comprising: obtaining a set of historical rating data associated with at least one rated entity and generated by a collective rating system, the set of historical rating data at least comprising a sequence of ratings and a distribution of ratings in the sequence of ratings at each of a set of rating-levels; calculating, utilizing the set of historical rating data, an optimal setting for each of a set of parameters and at least one function associated with a prediction-based model, wherein each of the optimal settings satisfies an optimization threshold; configuring the prediction-based model with the optimal setting for each of the set of parameters and at least one function; and generating, based on the configured prediction-based model and the set of historical rating data, a set of modeling data. 2. The method of claim 1, wherein the calculating comprises: generating a plurality of sequential prediction tasks based on the set of historical rating data, each of the plurality of sequential prediction tasks being configured to predict at least one rating level for a given rating in the sequence of ratings; for at least one of the plurality of sequential prediction tasks performing an iterative optimization process, where each iteration of the optimization process is associated with a corresponding sequential prediction task in the plurality of sequential prediction tasks, the iterative optimization process comprising selecting a setting for each of the set of parameters and the at least one function; configuring the prediction-based model with the setting selected for each of the set of parameters and the at least one function; predicting, utilizing the configured prediction-based model and based on a set of known rating-levels for previous ratings in the sequence of ratings, a rating-level for a known rating in the sequence of ratings corresponding to the prediction task; comparing the predicted rating-level with a rating level of the known rating; determining, based on the comparing, if the predicted rating-level satisfies the optimization threshold; based on the predicted rating-level failing to satisfy the optimization threshold, performing a next iteration of the iterative optimization process; and based on the predicted rating-level satisfying the optimization threshold, identifying each setting currently selected for the set of parameters and at least one function as the optimal setting. 3. The method of claim 1, wherein the set of parameters comprises at least a first parameter representing one or more coefficients of an intrinsic distribution related to a true quality of the at least one rated entity, and at least a second parameter that weighs an effect of each of the distributions of ratings at a given rating level on generating a new rating at a given rating-level, and wherein the at least one function is a magnitude function describing a relationship between a strength of herding effects and a number of ratings in the sequence of ratings. 4. The method of claim 1, wherein the prediction-based model is defined as: Pr  ( r i = k | x i ) = exp  ( μ k + f  ( i )  θ k ⊤  x i ) ∑ k ′ = 1 K   exp  ( μ k ′ + f  ( i )  θ k ′ ⊤  x i ) where ri is an ith rating in a sequence of ratings, k is a given rating-level, xi is a rating history, Pr(ri=k|xi) is a likelihood of observing a level-k rating given rating history xi, μ=[μ1, μ2, . . . , μK]T∈K represents coefficients of an intrinsic distribution related to a true quality of a rated entity, ƒ(•) is a magnitude function describing a relationship between a strength of herding effects and a number of ratings in the rating history, and θk∈K weighs an effect of each of rating in xi at a given rating level on generating a new rating at a given rating-level. 5. The method of claim 1, wherein the modeling data comprises an intrinsic quality of the at least one rated entity, the intrinsic quality being calculated based on factoring out herding effects from the sequence of ratings. 6. The method of claim 1, wherein the modeling data comprises a predicted rating growth for the at least one rated entity, the predicted rate growth characterizing a distribution of M subsequent ratings for the at least one rated entity based on its previous N ratings. 7. The method of claim 1, wherein the modeling data comprises one or more predicted trends of future rating growth calculated based on a distribution of M subsequent ratings for the at least one rated entity based on its previous N ratings and X artificial ratings. 8. An information processing system for quantifying herding effects in one or more collective rating systems, the information processing system comprising: memory; at least one processor communicatively coupled to the memory; and a data processor communicatively coupled to the memory and the processor, wherein the data processor is configured to perform a method comprising: obtaining a set of historical rating data associated with at least one rated entity and generated by a collective rating system, the set of historical rating data at least comprising a sequence of ratings and a distribution of ratings in the sequence of ratings at each of a set of rating-levels; calculating, utilizing the set of historical rating data, an optimal setting for each of a set of parameters and at least one function associated with a prediction-based model, wherein each of the optimal settings satisfies an optimization threshold; configuring the prediction-based model with the optimal setting for each of the set of parameters and at least one function; and generating, based on the configured prediction-based model and the set of historical rating data, a set of modeling data. 9. The information processing system of claim 8, wherein the calculating comprises: generating a plurality of sequential prediction tasks based on the set of historical rating data, each of the plurality of sequential prediction tasks being configured to predict at least one rating level for a given rating in the sequence of ratings; for at least one of the plurality of sequential prediction tasks performing an iterative optimization process, where each iteration of the optimization process is associated with a corresponding sequential prediction task in the plurality of sequential prediction tasks, the iterative optimization process comprising selecting a setting for each of the set of parameters and the at least one function; configuring the prediction-based model with the setting selected for each of the set of parameters and the at least one function; predicting, utilizing the configured prediction-based model and based on a set of known rating-levels for previous ratings in the sequence of ratings, a rating-level for a known rating in the sequence of ratings corresponding to the prediction task; comparing the predicted rating-level with a rating level of the known rating; determining, based on the comparing, if the predicted rating-level satisfies the optimization threshold; based on the predicted rating-level failing to satisfy the optimization threshold, performing a next iteration of the iterative optimization process; and based on the predicted rating-level satisfying the optimization threshold, identifying each setting currently selected for the set of parameters and at least one function as the optimal setting. 10. The information processing system of claim 8, wherein the set of parameters comprises at least a first parameter representing one or more coefficients of an intrinsic distribution related to a true quality of the at least one rated entity, and at least a second parameter that weighs an effect of each of the distributions of ratings at a given rating level on generating a new rating at a given rating-level, and wherein the at least one function is a magnitude function describing a relationship between a strength of herding effects and a number of ratings in the sequence of ratings. 11. The information processing system of claim 8, wherein the prediction-based model is defined as: Pr  ( r i = k | x i ) = exp  ( μ k + f  ( i )  θ k ⊤  x i ) ∑ k ′ = 1 K   exp  ( μ k ′ + f  ( i )  θ k ′ ⊤  x i ) where ri is an ith rating in a sequence of ratings, k is a given rating-level, xi is a rating history, Pr(ri=k|xi) is a likelihood of observing a level-k rating given rating history xi, μ=[μ1, μ2, . . . , μK]T∈K represents coefficients of an intrinsic distribution related to a true quality of a rated entity, ƒ(•) is a magnitude function describing a relationship between a strength of herding effects and a number of ratings in the rating history, and θk∈K weighs an effect of each of rating in xi at a given rating level on generating a new rating at a given rating-level. 12. The information processing system of claim 8, wherein the modeling data comprises at least one of: an intrinsic quality of the at least one rated entity, the intrinsic quality being calculated based on factoring out herding effects from the sequence of ratings, and a predicted rating growth for the at least one rated entity, the predicted rate growth characterizing a distribution of M subsequent ratings for the at least one rated entity based on its previous N ratings. 13. The information processing system of claim 8, wherein the modeling data comprises one or more predicted trends of future rating growth calculated based on a distribution of M subsequent ratings for the at least one rated entity based on its previous N ratings and X artificial ratings. 14. A computer program product for quantifying herding effects in one or more collective rating systems, the computer program product comprising: a storage medium readable by a processing circuit and storing instructions for execution by the processing circuit for performing a method comprising: obtaining a set of historical rating data associated with at least one rated entity and generated by a collective rating system, the set of historical rating data at least comprising a sequence of ratings and a distribution of ratings in the sequence of ratings at each of a set of rating-levels; calculating, utilizing the set of historical rating data, an optimal setting for each of a set of parameters and at least one function associated with a prediction-based model, wherein each of the optimal settings satisfies an optimization threshold; configuring the prediction-based model with the optimal setting for each of the set of parameters and at least one function; and generating, based on the configured prediction-based model and the set of historical rating data, a set of modeling data. 15. The computer program product of claim 14, wherein the calculating comprises: generating a plurality of sequential prediction tasks based on the set of historical rating data, each of the plurality of sequential prediction tasks being configured to predict at least one rating level for a given rating in the sequence of ratings; for at least one of the plurality of sequential prediction tasks performing an iterative optimization process, where each iteration of the optimization process is associated with a corresponding sequential prediction task in the plurality of sequential prediction tasks, the iterative optimization process comprising selecting a setting for each of the set of parameters and the at least one function; configuring the prediction-based model with the setting selected for each of the set of parameters and the at least one function; predicting, utilizing the configured prediction-based model and based on a set of known rating-levels for previous ratings in the sequence of ratings, a rating-level for a known rating in the sequence of ratings corresponding to the prediction task; comparing the predicted rating-level with a rating level of the known rating; determining, based on the comparing, if the predicted rating-level satisfies the optimization threshold; based on the predicted rating-level failing to satisfy the optimization threshold, performing a next iteration of the iterative optimization process; and based on the predicted rating-level satisfying the optimization threshold, identifying each setting currently selected for the set of parameters and at least one function as the optimal setting. 16. The computer program product of claim 14, wherein the set of parameters comprises at least a first parameter representing one or more coefficients of an intrinsic distribution related to a true quality of the at least one rated entity, and at least a second parameter that weighs an effect of each of the distributions of ratings at a given rating level on generating a new rating at a given rating-level, and wherein the at least one function is a magnitude function describing a relationship between a strength of herding effects and a number of ratings in the sequence of ratings. 17. The computer program product of claim 14, wherein the prediction-based model is defined as: Pr  ( r i = k | x i ) = exp  ( μ k + f  ( i )  θ k ⊤  x i ) ∑ k ′ = 1 K   exp  ( μ k ′ + f  ( i )  θ k ′ ⊤  x i ) where ri is an ith rating in a sequence of ratings, k is a given rating-level, xi is a rating history, Pr(ri=k|xi) is a likelihood of observing a level-k rating given rating history xi, μ=[μ1, μ2, . . . , μK]T∈K represents coefficients of an intrinsic distribution related to a true quality of a rated entity, ƒ(•) is a magnitude function describing a relationship between a strength of herding effects and a number of ratings in the rating history, and θk∈K weighs an effect of each of rating in xi at a given rating level on generating a new rating at a given rating-level. 18. The computer program product of claim 14, wherein the modeling data comprises an intrinsic quality of the at least one rated entity, the intrinsic quality being calculated based on factoring out herding effects from the sequence of ratings. 19. The computer program product of claim 14, wherein the modeling data comprises a predicted rating growth for the at least one rated entity, the predicted rate growth characterizing a distribution of M subsequent ratings for the at least one rated entity based on its previous N ratings. 20. The computer program product of claim 14, wherein the modeling data comprises one or more predicted trends of future rating growth calculated based on a distribution of M subsequent ratings for the at least one rated entity based on its previous N ratings and X artificial ratings.