VIEWS: 10 PAGES: 4 POSTED ON: 9/17/2010
Chaordix FAQs ABOUT CROWDSOURCING What Is Crowdsourcing? Crowdsourcing harnesses the power of a community, using advanced social media technology and knowledge of crowd behaviour, to collect, evolve and rank ideas and contributions to reveal the strongest performers. Crowdsourcing can shorten time to market for new products, uncover ways to cut costs or improve service levels, and heighten market success for new products or enhancements. Companies, organizations and governments use crowdsourcing technology to most rapidly and economically understand market needs, opportunities and priorities. Crowdsourcing – The Process Crowdsourcing invites crowds to submit, discuss, refine and rank ideas or other contributions via the web to arrive at what have been proven economically as the most-likely-to-succeed solutions. How Jeff Howe in a June 2006 Wired article described it..."Crowdsourcing is the process by which the power of the many can be leveraged to accomplish feats that were once the province of a specialized few." As described by wikipedia..."Crowdsourcing is an online, distributed problem solving and production model. Problems are broadcast to an unknown group of solvers via the Web in the form of an open call for solutions. Users--also known as the crowd--typically form into online communities based on the Web site, and the crowd submits solutions to the site. The crowd also sorts through the solutions, finding the best ones." Eric Schmidt, Google CEO talks about crowdsourcing in Don Tapscott's Wikinomics, 2007 saying.. Peer production is about more than sitting down and having a nice conversation... It's about harnessing a new mode of production to take innovation and wealth creation to new levels. What’s the business return been for crowdsourcing? The payoff of crowdsourcing is now proven, when it’s applied right. There are four mature methods to apply crowdsourcing in frequent use. Market prediction - Be first to understand market desires Who’s doing it: Sony with American Idol, Dell with its Ideastorm Product innovation - Innovate with a higher success rate and most profitably Who’s doing it: P&G, istockphoto Research discovery - Find answers to problems that you can’t solve internally Who’s doing it: Goldcorp in 2000, every company using InnoCentive Brand collaboration - Get creative input to stay relevant to consumers Who’s doing it: Dunkin Donuts, Heinz Ketchup, Converse What are the business benefits of crowdsourcing? Simply put, you get the brightest ideas from the masses… you own those ideas… and you can apply them to your business to perform and often profit. How are organizations using crowdsourcing? There are four common ways that businesses apply crowdsourcing: Market prediction Product or business innovation Research discovery Brand Collaboration Learn more about these business cases in our blog. Also see how we scored the crowdsourcing ROI by Intel, Procter & Gamble, Goldcorp and others. How does crowdsourcing differ from online community? Online community engages a crowd, whereas crowdsourcing gets the crowd to contribute. Web community gets members profiled and conversing, can give them access to resources, and creates a 2-way relationship the host organization. Crowdsourcing is the means to tap communities for value. Crowdsourcing puts a call to the crowd to input ideas, vote, and help prioritize the highest value solutions or directions for the business. A community may contribute product ideas, direction on how to best enhance your business, produce ad creative for your brand or solve a problem that has stumped your internal team. It’s not unusual for the contribution of a crowd to be worth millions to an organization. What’s the power of the crowd? Studies described in Malcolm Gladwell’s The Tipping Point, Jeff Howe’s Crowdsourcing and Don Tapscott’s Wikinomics show that a relatively uninformed crowd routinely out-predicts a group of experts in a room. It’s now proven that more innovation comes from the hobbyists and enthusiasts that are active online than a small group of experts collaborating in isolation. See what business and thought leaders have to say on this topic – view Sound Bites. Is crowdsourcing new? The practice of tapping a crowd has long been used by business. In 1916 Planters Peanuts held a contest to develop its logo. What’s new about crowdsourcing is how it uses web 2.0 technology to rapidly, affordably reach a global crowd for open innovation. Crowdsourcing technology using sophisticated algorithms based on deep knowledge of human behavior, equips business to distill crowd input down to not just “what’s most popular” but what really is the economically most likely to succeed idea. ABOUT CHAORDIX What does Chaordix do? We advise enterprises on how to effectively adopt crowdsourcing and equip them with the technology to do so: the Chaordix crowdsourcing platform. Our clients use Chaordix to give their crowds a web destination for open innovation. With Chaordix, enterprises can call to their crowds whether that means the broad public, employees, partners or other stakeholders to invite them to contribute to their business. Who is Cambrian House? Cambrian House is our founding, parent company… Cambrian House began as a crowdsourcing community looking to discover software ideas. We built a new crowdsourcing technology platform and build a global community that grew to over 50,000 members, largely entrepreneurs seeking to collaborate on startup ideas, and often attract talent and money to build them out. Over 7000 business ideas were submitted, and refined by the crowd, and through a multi-tiered voting system the most promising ideas were identified. Several successful businesses were spun out including Mob4Hire.com, which in 2009 was recognized as a RedHerring top 100 startup. In early 2008, companies began to ask to use the best-in-class platform and we were approached by a venture capital firm that wished to own the Cambrian House community. We transacted the community and licensed our technology to them, and then branded our technology and services as Chaordix. Who are some of Chaordix customers? Under NDA with a prospective client we can mention that we are working with IBM, Ipsos, Decathlon, PwC, and the University of Oxford (UK). Without NDA, we can say that we are working with PwC and are an invited member of IBM’s Data Governance Council, and also say that our client list includes: One of the world’s top five market research firms One of the world’s largest computer companies One of the world’s largest sports retailers One of the world’s leading universities Can you give some examples of successes? Original Cambrian House community was very successful. It was started to Crowdsource new business ideas and gained over 50 thousand members and more than 7000 contributions of new business ideas. Greedy or Needy is another success – it’s a vibrant community with tens of thousands of members and over one million contributions to date. Mob4Hire is another success – a business that came out of the original Cambrian House community was deemed a RedHerring Top100 business in 2009. The results of our client’s sites are their property, so we are not at liberty to share them. What is your pricing model? We offer our Chaordix crowdsourcing platform in a Software-as-a-Service model along with services to plan and implement the crowdsourcing site. Typically, there is a one-time up front fee for to configure your site, which includes all of our consultancy as well, we share our expertise with you to get you on the right path. This includes identifying the business goal for crowdsourcing, profiling the crowd, identifying the capabilities needed and implementing a custom branded web experience Then there is a SaaS monthly charge - depending on functionality/ how many users Available community management and member recruitment services available. If you prefer, we can bundle it all together in one price. How long does it take to deliver a site? We’ve delivered sites in as little as two weeks, but a typical time – start of project to site into production is six to eight weeks. How many employees? We have full time staff of 15, with a network of retained contractors that bring our full team to over 20.
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