Group items tagged

This article focuses on the web 2.0 term "wisdom of crowds" within crowd sourcing, in which Catone explains as meaning "two heads are better than one, and that still more heads will yield even better results." The "Wisdom of crowds" looks at how crowds determine popularity and accuracy on the internet because they are the actions of millions of people. Wikipedia is an example of this concept as it is formed by the collaboration of thousands of users. This article states that according to studies Wikipedia is as accurate as encyclopaedia volumes such as Britannica. This theory comes from the fact that although crowd sourcing enables millions of people to participate, on websites such as Wikipedia it is usually just a few thousand people that contribute. Although it is possible for anyone to edit the website, it is monitored for changes and incorrect information is seen as the exception rather than the rule (Goodin 2005). "Crowdsourcing can be looked at as an application of the wisdom of crowds concept, in which the knowledge and talents of a group of people is leveraged to create content and solve problems." The wisdom of crowds concept can be seen differently when applied to websites such as www.StumbleUpon.com. StumbleUpon allows for users to rate and share web pages. Within a category users can rate with a 'thumbs up' or 'thumbs down' on the page they are given. The ratings not only determine what web pages you are referred to in future, but they allow for others who browse the same category as yourself to see the most relevant (most voted for) pages. As crowd sourcing enables for crowds to put forward their concepts, strategies and problem solving solutions in to practice in one place, the 'wisdom of crowds' concept refers to the way in which the large input from crowds enables particular websites on the internet to function in a way more relevant to its users. Goodin, D. (2005, December 14). 'Nature': Wikipedia is accurate. Retrieve

Crowdsourcing is changing some industries as revealed in 'Business Crowdsourcing: Why the Power of the Crowd is driving the Future of Business' by Jeff Howe. The phenomenon is a threat to organisations that sell what the crowd will do much more cheaply (Howe, 2008). Thank You Steffi for this article as I found it very interesting and insightful. Collective intelligence I believe is essential to the growth of knowledge especially within organisations, relating to my topic of Organization collaborative tools. Companies benefit from crowdsourcing, not only from the ideas they generate through collaboration, but also from the publicity they attract ("Crowdsourcing just got Simpler, Faster and Less Expensive," 2009). Crowdsourcing is vital as pointed out in the article. By stating that Wikipedia is as accurate as Encyclopaedias, I welcome this shift from one point of opinion to a community based perceptive view. The Cambrian House example was perhaps a wonderful representation of crowdsourcing in the form of community collaboration. Cambrian House as a crowdsourcing community using the wisdom of crowd based approach to discover new business and technology ideas is laudable ("Doors more than open at Cambrian House; Cambrian House delivers "crowdsourcing technology in a box" and evolves its focus to developing its crowdsourced product portfolio," 2008). A million heads is truly better than one. Reference: Crowdsourcing just got Simpler, Faster and Less Expensive. (2009). PR Newswire. Retrieved from http://proquest.umi.com.dbgw.lis.curtin.edu.au/pqdweb?index=0&did=1670123411&SrchMode=1&sid=1&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1303038199&clientId=22212 Doors more than open at Cambrian House; Cambrian House delivers "crowdsourcing technology in a box" and evolves its focus to developing its crowdsourced product portfolio. (2008). PR Newswire. Retrieved from http://proquest.umi.com.dbgw.lis.curtin