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Irvin Fuensalida

on 27 July 2015

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Transcript of Crowdsourcing

According to Merriam-Webster dictionary, crowd sourcing is the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people and especially from the online community rather than from traditional employees or suppliers.
Types of crowd sourcing
Crowdsource Design
- for those who are looking for a logo design can reach out to an online crowd of designers and get hundreds of finished logos in return. This process increases the quality and decreases the price of design compared to online freelancing.
Crowd funding
– those who are in need of fund for a certain project seeks donations from crowd of people. This is mostly used by artists, charities, & start-ups to raise money for projects such as filming a documentary, research, charitable work.
The process of getting work or funding, usually online, from a crowd of people. The word is a combination of the words 'crowd' and 'outsourcing'. The idea is to take work and outsource it to a crowd of workers. Famous Example: Wikipedia.
- http://dailycrowdsource.com/
– a task that requires a lot of work can be breakdown into tiny task by sending the work to a crown of people. By doing so, the task can be done simultaneously and can be completed within minute which is much cheaper and efficient.
 Produces better quality results, since several people offer their best ideas, skills, & support.

 Provides wide variety of best results from a sea of ‘best entries,’ as opposed to receiving the best entry from a single provider.

 Effiency - results can be delivered much quicker than traditional methods, A project or task can be completed with a month or a few weeks or within minutes.

 Quality can be difficult to judge if proper expectations are not clearly stated. This means clear instructions are an essential part of a successful crowd sourcing otherwise you may end up searching through thousands of possible ideas which can be very complicated.

Open Innovation
- Open innovation brings together people from different parts of the world and different sectors of business to work together on a project. This is effectively a collection of different fields and levels of expertise that would not otherwise be available to any budding entrepreneur. It also elevates previously considered uninvolved parties, such as investors, to roll up their sleeves and impart their knowledge, essentially becoming more than just a cash cow.
Pros & Cons

Music by:
Summer Days (Driving Remix),www.wondershare.com
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