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The Power of Open Data and Crowdsourcing Analytics

 

Crowdsourcing, a combination of “crowd” and “outsourcing” first coined by Wired magazine in 2005 and fueled by the Internet, is a powerful sourcing model that leverages the depth of experience and ideas of a public group rather than an organizations own employees. In The Importance of CrowdSourcing Matt H. Evans points out that “Crowdsourcing taps into the global world of ideas, helping companies work through a rapid design process. You outsource to large crowds in an effort to make sure your products or services are right.” The advantages of using crowdsourcing are claimed include improved costs, speed, quality, flexibility, scalability, or diversity. It has been used by start-ups, large corporations, non-profit organizations, and to create common goods. Wikipedia maintains a list of crowdsourced projects.



This post first appeared on Elder Research Data Science & Machine Learning Blog, please read the originial post: here

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The Power of Open Data and Crowdsourcing Analytics

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