Crowd Sourcing Whitepaper

White Paper | Crowd Sourcing

CROWD SOURCING A Platform for Open Innovation

Role Of Crowd Sourcing in Today’s Business

Applications Of Crowd Sourcing

Crowd Sourcing Process

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With the digital era,

businesses are growing at a

faster pace and the

organizations need to bring

in innovation, pool in

innovative ideas and

develop new products at a

shorter span of time. The

mantra to make all these

possible is through

crowdsourcing allowing

your end-customers and

other stakeholders to pool

in their ideas thereby

bringing about a change

without spending much

time and cost. According to

Massolutions research

group, the global crowd

sourcing is growing at a

faster pace with the venture

capitalists investing upto

$300 million dollars in it.

To adopt Crowdsourcing

technologies organizations

need to adopt the

following

Crowd Sourcing should be

used where Larger task

has to be broken down

into smaller set of tasks.

It should be used where

the User need not require

any domain specific

knowledge.

Organizations must make

use of crowdsourcing for

tasks which require few

minutes to complete.

Abstract

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Crowd Sourcing has become an integral part of today’s business allowing customers to participate in the develop-ment of new products and services. The traditional ap-proach involved the ideas of people internal to the organi-zation resulting in a product that involved low differentia-tion, undergoing a series of changes post launch and be-ing unsatisfactory to custom-

ers. But now, with the evolu-tion of digital technologies such as social media, mobility the organizations are able to tap into the knowledge of the crowd improving their inno-vation. This enables the prod-uct manufacturers and de-signers to make better and informed decisions on launching a new product/service with differentiating features.

Role of Crowd Sourcing in Today’s

Business

Tasks that involve repetitive

work like data collection/data

entry jobs can be performed

using crowdsourcing. Some

of the applications of Crowd

Sourcing are:

# 1: Data Collection: For Ex-

tracting, analyzing and verify-

ing data for launching a new

product/solving an existing

problem in an organization.

Crowdsourcing will help in

pooling in more information

as each individual will obtain

the data from their personal-

ized networks resulting in a

vast collection of ideas/ feed-

backs.

#2: Categorize data: To avoid

data clutters it is needed to

organize the data entries.

These tasks can be per-

formed by a group of individ-

uals at a faster pace allowing

the Organization to save time

and cost.

#3: Sentiment Tracking: The crowd can be used to track and analyze the public senti-ments on a particular topic.

Applications of Crowd Sourcing

Crowd Sourcing Process

Organizations that are new to Crowd Sourcing should adopt

the following five steps for the ease of implementation

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Step1: The organization needs to

understand the problem that

has to be resolved through

crowd sourcing. After which, the

matching crowd sourcing oppor-

tunities have to be identified. It

then needs to prioritize the

problems.

Step2: The organizations have to

tap the way in which work is per-

formed today. Nowadays most

of the people utilize

smartphones/tablets to do their

tasks and utilize social media

websites to engage with others.

So, the best way to crowd source

is to put the problem in social

media websites and other online

sites and the company’s web

platform so that customers can

identify with it.

Step3:The next step is to listen

to the workers solutions on the

given problem .The workers per-

formance have to be monitored

from time-to-time and the or-

ganizations can fine-tune them

further. The organization can al-

so encourage customers to give

their suggestions/ideas in the

web portal.

Step4 & 5:Finally, the solutions are analyzed by the manage-ment and the winning solutions are awarded for their crowdsourcing contributions.

Analyze the solutions with other internal stakeholders

Identify the Prob-lem to resolve

through Crowdsourcing

Broadcast the Problem online

Listen to the “crowd” solutions

Award the win-ning solutions

Different forms of Crowd Sourcing

Crowd sourcing has five differ-ent forms that includes a sourcer/manager and a market/group of people. Identifying the right type of crowd sourcing methodology helps to manage

even if it is a large job involving thousands of workers or just a small task with few workers. The task can be either supervised by the manager or let open to the group to manage by themselves

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White Paper | Crowd Sourcing #1 Crowd Engagement : Crowd

Engagement can be used to

identify the best solution for

performing the task by conduct-

ing contests ,so that the cost for

the company is reduced to just

that particular person who pro-

vides the best solution while at-

taining a pool of ideas .

#2 Macro Tasks: To attain spe-

cific skills for a particular task or

a project. The worker is hired

from the crowd for performing

that task and is paid on a per

task basis.

#3 Micro Tasks: It refers to large

repetitive tasks. These tasks are

divided into smaller chunks and

divided among the workforce.

Finally the tasks are unified to

attain a meaningful output.

#4 Crowd Funding: It involves

utilizing social media sites to

raise money. Putting videos or

creating messages in online sites

to raise money from the public.

#5 Self-Managed Crowds: A problem/challenge is posted by the organization on the social media and other online sites. The crowd forms groups and the group with the winning solution is awarded.

Benefits of Crowd Sourcing

Nurture a culture of Innova-

tion within the organiza-

tion.

To gain a 3600 view of cus-

tomer sentiments.

To increase the customer

satisfaction by introducing

new features in the existing

product/services.

To increase the success rate

on launching of new prod-

ucts.

Improve customer engage-

ment by getting their opin-

ions/suggestions also in the

launching of new products.

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Conclusion

Author Roshni is a part of Digital Consulting Team at Sensiple . She consults organizations on embarking their digital strategies .Roshni has completed her Engineering in Electronics and Instrumentation and is a management graduate from NIT Trichy. Her interests include advanced analytics that helps to save time and optimize costs.

Roshni Digital Consultant, SENSIPLE

Crowd Sourcing thereby remains the optimal solu-tion to many of today’s business challenges at one end it generates an innovation based culture into the organization while at the other end it helps or-ganizations to save costs. When implemented with care, it can garner benefits to the organization by improving the productivity and customer engage-ment.

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Documents

Crowd Sourcing Whitepaper