Crowdsourcing is a method of assigning tasks to a wide group of people, promoting innovation, diversity of ideas, and cost-effectiveness.

Definition

Crowdsourcing, as the name suggests, refers to the act of sourcing tasks traditionally performed by specific individuals to a group of people or community (a crowd) through an open call. The concept is often executed via the internet, where a large number of individuals can be reached at once.

Usage and Context

Crowdsourcing is used in various sectors, including innovation, problem-solving, and funding. It's a cost-effective method for companies to get their work done. It allows businesses to tap into the global talent pool and get a variety of perspectives on a single issue. It also promotes a democratic system where everyone gets a chance to present their ideas.

FAQ

What is an example of crowdsourcing?

An example of crowdsourcing is when a company runs a contest for designing their new logo. They invite designs from anyone who wishes to participate, and the best design is chosen as the new logo.

How does crowdsourcing work?

Crowdsourcing works by distributing tasks to a wide group of people. These tasks can be anything from data creation, idea generation, problem-solving, or even funding a project.

Related Software

There are various software and platforms available that facilitate crowdsourcing. Some of these include Amazon's Mechanical Turk, Kickstarter, and InnoCentive.

Benefits

Crowdsourcing has numerous benefits. It allows for a wide variety of ideas, promotes innovation, and can be cost-effective. It also allows for quick turnaround times as many people are working on the task simultaneously.

Conclusion

In conclusion, crowdsourcing is a powerful tool for businesses. It allows them to tap into a global talent pool and get a variety of perspectives on an issue. It is a cost-effective, innovative, and democratic method of problem-solving.

Related Terms

Crowdfunding in Business

Crowdfunding in business is a method of raising funds for a project or venture by collecting small amounts from a large number of individuals, typically via the internet.
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  • appinstitute
  • epayco
  • nibol
  • njlitics
  • paykickstart
  • tedx
  • paymo
  • startupgeeks
  • tweethunter