Crowdsourcing
Explanation
Crowdsourcing is the process of assigning tasks and processes to the mass of Internet users. The primary call is for Internet users to participate in work and the creative processes of companies on the Internet. Examples of such work include the popular online encyclopedia, Wikipedia.
Application of Crowdsourcing
Crowdsourcing can be used in various fields and has the goal of procuring new ideas and creating new innovations. This form of innovation management is already a part of many companies’ business plans but has been expanded to the Internet as a whole.
Another popular application is crowdfunding. Crowdfunding encourages individuals to contribute financially to projects in exchange for some end reward.
Large projects that use crowdsourcing get realized more quickly and are easier to market since they have already reached so many people.
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