Rasmussen, the nontraditional pollster?
Rasmussen’s current daily presidential tracking poll:
The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows that 27% of the nation’s voters Strongly Approve of the way that Barack Obama is performing his role as president. Forty-five percent (45%) Strongly Disapprove, giving Obama a Presidential Approval Index rating of -18 (see trends).
What is remarkable is how consistent this poll has been—and how gradual the change, beyond the daily fluctuations (and rapid change at the beginning of 2009, which must be taken as an anomaly by any historical standards).
Rasmussen’s justification for polling strong disapproval and approval (dubbed “passion index” by Ed Morrissey of Hot Air) has been that this is the strongest indicator of future trends—and I believe this is the proper point of view in which to judge Rasmussen’s performance, not by a snapshot comparison of his last poll before the election with the result of the election, the traditional metric used by all other pollsters.
A pollster’s performance metric should not simply be a function of his accuracy—it’s a function of how quickly he reaches his final assessment. This is the same view taken by market traders and (sometimes) investors. Taking an accurate current snapshot of general sentiment is easy—it’s called the market price—and there is little benefit to be derived from knowing the current snapshot. Much more efforts are usually spent divining future trends—and there is much profit (and benefit) to be derived from that.
For this reason, investors look for “leading indicators” in timing (if they do it) their securities purchases, such as consumer spending, manufacturing output, inventory levels, etc. etc. When they make their purchase, the current price is only one of the factors in the consideration, and for many (some would say too many) expectation of the price change is a bigger factor.
The same reasoning can be applied to the political and demographic appraisals. In planning for the future (e.g. businesses deciding where to invest in, or which politicians/party to curry favor with), knowing current public sentiment is not good enough—it is important to know it well ahead of time; otherwise one risks being seen as a flip-flopper like Charlie Crist, swaying as political winds blow.
This isn’t the view taken by most pollsters—or judges of pollsters like Nate Silver—as they put all their emphasis on the accuracy of the final polling of a given election cycle. Perhaps their view has some legitimacy; after all, political world differs from economic world in that actual, real changes can happen only every 2 years or so, not on daily basis as it does in the market.
But one can’t deny the value of carrying the reputation as a reliable pollster in the off years—unlike the traditional pollsters, who, in their refusal to use likely voter model at all before the Labor Day in the election year, cannot be trusted before the Labor Day in the election year.