Have you ever heard the word crowdsourcing? It's probable that you are familiar with the process of crowdsourcing even if you can't recall hearing that word before.
Crowdsourcing is the gathering of information from the public and then to use that information to complete a corporate related task.
This information is then used in a broad community of people, either through partnership or opposition.
Crowdsourcing give the company a possibility to find new ideas quickly and also cheaper.
They can access to capacities outside the association and this can aid in generating new viable advantages.
Crowdsourcing is especially popular and convenient with the use of the Internet.
Both for the companies and for the people, because they can easily leave their suggestions or express their thoughts on the company's product.
One example of crowdsourcing is crowdfunding.
"Crowd funding-the online request for resources from a distributed audience often in exchange for a reward-provides a new way for individuals and teams to solicit financial support from a distributed audience.
" (Elizabeth M.
Gerber, Julie Hui, 2013) The article discloses that traditional fundraising methods like requesting funds from banks is transforming with platforms like "Go Fund Me.
" This website makes it possible to gain resources directly from supporters and eliminates the necessity of seeking high interest small loans from banks.
Another form of crowdsourcing is Crowd voting.
"Crowd voting is a crowdsourcing process in which a platform only promotes or sells those goods and services that are supported by the majority of the digital crowd.
" (Slavkovik, Marija; Dennis, Louise; Fisher, Michael, 2015) Crowd voting is a method of eliciting an opinion only from the community that is interested in a particular issue.
" An example of a crowd voting is "American Idol".
Crowd voting decides the winners of this popular television show and several other popular television shows have also employed crowd voting in order to gain an insight on the public's views.
This feedback serves as a cheap substitute for piloting a wide-range market study when developing new products or services.
The third and final example of crowdsourcing that I will be discussing is Crowd contest.
"The most straightforward way to engage a crowd is to create a contest.
The sponsor or company identifies a specific problem, offers a cash prize, and broadcasts an invitation to submit solutions.
Contests work well when it's not obvious what combination of skills or even which technical approach will lead to the best solution for a problem.
" (Boudreau, Kevin J.
& Lakhani, Karim R, 2013) Holding a contest is similar to running a sequence of testing in which we see some differences in the results.
It is no secret that more businesses are turning to the public to solve the tough challenges while looking for creative ideas to help meet business objectives.
The crowd contest are a good way to achieve this goal.
Doritos has launched a campaign to discover the next popular favor of potato chips by allowing the public to create their own unique favor of Doritos chips.
By doing this contest the company is gaining a lot of information to guide their investment into producing a new product.
Hopefully, now we can better understand the term "crowdsourcing" and recognize the difference between at least three types of crowdsourcing.
On a personal note out of all the types of crowdsourcing I feel that crowd contest is one of the most effective methods of crowdsourcing.
People are heavy inspired to create an innovated idea or solve a complex problem when they themselves will prosper from finding the solution.
In choosing the right form of crowdsourcing we can accomplish a lot without cutting profits to do so, because we can let the crowd decide what we should or should not spend time or money on.
Crowdsourcing is the gathering of information from the public and then to use that information to complete a corporate related task.
This information is then used in a broad community of people, either through partnership or opposition.
Crowdsourcing give the company a possibility to find new ideas quickly and also cheaper.
They can access to capacities outside the association and this can aid in generating new viable advantages.
Crowdsourcing is especially popular and convenient with the use of the Internet.
Both for the companies and for the people, because they can easily leave their suggestions or express their thoughts on the company's product.
One example of crowdsourcing is crowdfunding.
"Crowd funding-the online request for resources from a distributed audience often in exchange for a reward-provides a new way for individuals and teams to solicit financial support from a distributed audience.
" (Elizabeth M.
Gerber, Julie Hui, 2013) The article discloses that traditional fundraising methods like requesting funds from banks is transforming with platforms like "Go Fund Me.
" This website makes it possible to gain resources directly from supporters and eliminates the necessity of seeking high interest small loans from banks.
Another form of crowdsourcing is Crowd voting.
"Crowd voting is a crowdsourcing process in which a platform only promotes or sells those goods and services that are supported by the majority of the digital crowd.
" (Slavkovik, Marija; Dennis, Louise; Fisher, Michael, 2015) Crowd voting is a method of eliciting an opinion only from the community that is interested in a particular issue.
" An example of a crowd voting is "American Idol".
Crowd voting decides the winners of this popular television show and several other popular television shows have also employed crowd voting in order to gain an insight on the public's views.
This feedback serves as a cheap substitute for piloting a wide-range market study when developing new products or services.
The third and final example of crowdsourcing that I will be discussing is Crowd contest.
"The most straightforward way to engage a crowd is to create a contest.
The sponsor or company identifies a specific problem, offers a cash prize, and broadcasts an invitation to submit solutions.
Contests work well when it's not obvious what combination of skills or even which technical approach will lead to the best solution for a problem.
" (Boudreau, Kevin J.
& Lakhani, Karim R, 2013) Holding a contest is similar to running a sequence of testing in which we see some differences in the results.
It is no secret that more businesses are turning to the public to solve the tough challenges while looking for creative ideas to help meet business objectives.
The crowd contest are a good way to achieve this goal.
Doritos has launched a campaign to discover the next popular favor of potato chips by allowing the public to create their own unique favor of Doritos chips.
By doing this contest the company is gaining a lot of information to guide their investment into producing a new product.
Hopefully, now we can better understand the term "crowdsourcing" and recognize the difference between at least three types of crowdsourcing.
On a personal note out of all the types of crowdsourcing I feel that crowd contest is one of the most effective methods of crowdsourcing.
People are heavy inspired to create an innovated idea or solve a complex problem when they themselves will prosper from finding the solution.
In choosing the right form of crowdsourcing we can accomplish a lot without cutting profits to do so, because we can let the crowd decide what we should or should not spend time or money on.
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