Crowdsourcing

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Does Crowdsourcing Need “Rethinking”?

Benefits of crowdsourcing: Common Misconceptions In my previous post, I gave a working definition of crowdsourcing and described two major crowdsourcing approaches: adding capacity and accessing expertise. I also argued that although numerous organizations – including corporations, governmental agencies, and nonprofits – have used crowdsourcing to solve complex business problems, its wider adoption in the marketplace has been relatively slow. Some...

What is Crowdsourcing, and How Can it Add Value to Your Enterprise?

Since the 2004 publication of James Surowiecki’s highly influential book, The Wisdom of Crowds, the idea that large groups of people can be smarter than a few individuals, no matter how brilliant, has been gradually gaining prominence in academic circles, business communities, and public opinion. Crowdsourcing is one of the most popular applications of this idea. Numerous organizations –including corporations, governmental agencies,...

Game Changers: How Citizen Science and Gamification Are Transforming the Business World

The acclaimed educational reformer John Dewey once said, “every great advance in science has issued from a new audacity of imagination”. Today, this audacity is reflected in the rising influence of citizen driven innovation and science – that is, the collaboration of volunteer non-scientists with professional scientists in collecting data and analyzing it to resolve real-world issues. The citizen science...

Crowdsourcing and Smart City Innovation: A Winning Combination

The evolving trend of smart city innovation is one that governments should be wholeheartedly embracing, but as with many government initiatives, seems to be having a hard time getting off the ground. Embedding crowdsourcing and innovation management into the smart cities initiative could be what makes the difference. At first glance, the term “smart government” appears to be oxymoronic. And...

Innovation SOP: Does Effective Leadership Lead to Effective Crowdsourcing?

Qmarkets’ Innovation Standard Operating Procedures (SOP): In this series, we will present different guidelines on how to bring innovation theory to practice. This week, we take a look at Innovation Leadership – how has the role of the Chief Information Officer (CIO) evolved into the Chief Innovation Officer (CINO), and how important is leadership in the age of crowdsourcing anyway? The ongoing...

How to turn a Multinational Automotive-Finance Company into an Innovation Powerhouse

With over 3,100 employees in 36 subsidiaries, RCI Bank and Services is a multinational finance company which is focused on delivering innovative services to customers of the Renault and Nissan automotive groups. We sat down with Jean-Philippe Mathes, Innovation Lab Director for RCI Bank and Services, to learn more about his experience managing the company’s innovation project utilizing Qmarkets’ idea management...

Crowdsourcing with the Competition: Rewarding Venture or Precarious Proposition?

Why your company needs to think about crowdsourcing with the competition… “Keep your friends close, and your enemies closer.” While not the original intent, many CEOs today would agree that this wisdom could be applied to relationships in the contemporary business world. Truly, the business world is getting smaller every day: drop shipping is giving the little guys an edge...

Matching Crowdsourcing to Specific Stages of Business Model Innovation

I like to argue (for example, here) that one of the major reasons crowdsourcing has not yet become a mainstream innovation tool is a paralyzing uncertainty over the question which technical or business problem can be successfully solved by using this approach. In this piece, I want to shed some light on the issue by proposing a simple model that...

Can Crowdsourcing Support Your Operational Excellence Strategy?

Operational excellence is a business principle which is currently supported by a range of process management tools and methodologies, however, these approaches fail to utilize the most valuable resource at the disposal of all large organizations – their employees. This audience is already delivering results across a huge range of use cases, from disruptive innovation to new product development, so why is...

Can Crowdsourcing Help to Break Down the Biggest Obstacle in Market Research?

The Wall of Separation You can’t see it, but it’s there: a towering wall, stretching from horizon to horizon, that separates 90% of all workers from the customers that keep them in business. Since the dawn of the industrial revolution, right through to today, people who sell things plan and organize and execute their business inside closed organizations (they’re called...

Majority Rules: Idea Evaluation Criteria & Voting Methods for Efficient Innovation Management

Continuing our series of posts from Qmarkets’ experts, Elio Boton,VP of R&D at Qmarkets, borrows from his experience in designing and implementing various voting methods into the Qmarkets innovation management platform to discuss voting – the importance of voting, how votes constitute an important set of idea evaluation criteria, why you need to implement voting into your Innovation Management platform,...

Gartner Research Insights: 5 Innovation Hacks to Boost your Digital Return

Hackathons, internal innovation programs, open innovation, technology acquisitions…these days it seems like everyone is jumping onto the innovation bandwagon. However the popularity of business innovation techniques is equalled by the confusion surrounding them. How is innovation best performed? Can guidelines for innovation be created? Recently, Gartner released a presentation, “The 5 Most Effective, Least Used Digital Innovation Hacks”1 outlining the results of a survey performed, asking...

How to Facilitate Experts and Streamline Your Innovation Management Process

The problem with democracy is that we can’t all always be in charge; one way or another there has to be someone at the top who holds the power to make that crucial final decision. As drastic as this comparison might seem, the very same quandary exists within the field of innovation management: How do you combine the invaluable collective...

Crowdsourcing Continuous Improvement: Kaizen Principles and Practices for Amplifying Excellence

Many companies seek to improve their operations through the documentation of best practices. From personal experience in a large, multinational enterprise technology company, I saw how well-articulated procedures can be beneficial to the immediate users and their successors. However, these reflect only one person or one department’s experience, and lack collective insights. The Kaizen Management Method is based on the...

Can an Open Innovation Challenge Methodology Help Solve the Refugee Crisis?

In 2015, an overcrowded boat carrying a group of Syrian refugees capsized and sank off an island in Greece. At least 34 people, including 15 children, died in this accident alone. Coming atop of the heartbreaking image of a drowned Syrian toddler washed ashore a beach in Turkey , this news epitomized the scale and severity of the humanitarian disaster...

Need an Ah-Ha Moment? Why Crowd-Sourcing Can Mimic That Individual Flash of Brilliance

  Eureka!  When we have a problem, this is the ‘Ah Ha’ moment that we all hope for. A flash of brilliance that saves the day, the project, or even our job! Going back to Archimedes, innovation is replete with examples of this somewhat mysterious, but extremely useful event. For example, one of Einstein’s key insights in developing special relativity...

And the Oscar goes to…Prediction Markets – Harnessing Collective Intelligence to Anticipate Success

Once again the power of Prediction Markets was displayed last week, as it correctly predicted 19 out of the 24 winners at the 2015 Oscar awards; an accuracy level of 79%. This blog that tracked the predictions of 18 pundits, found that only three pundits got 19 or more correct, with almost 80% of the pundits making less than 18...
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