We looked at 10 applications of the crowdsourcing concept for business. They cover the broad disciplines of marketing, advertising, product development, customer service, public relations, human resources, outsourcing, project management, Web development, coding, social media, and quality assurance. In some cases, crowdsourcing is the business. Some companies, such as Netflix, have put a mighty fine price tag on their crowdsourced efforts. Others, like Dell and Starbucks, utilize the concept on
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While some crowdsourcing initiatives are long-term projects, others have specific timelines and goals. And, in the case of the Netflix Prize, a very specific financial reward: $1 million. Netflix put that bounty on its well-known recommendation engine -- in non-technical terms, that thing that suggests movies you might like -- and dared the developer universe to come up with something better. Netflix kicked off the competition in 2006 and said it would last until at least 2011, offering $50,000 "progress prizes" along the way. It didn't make it that far: In 2009, the company awarded the $1 million to an algorithm devised by team "BellKor's Pragmatic Chaos."
Building A Mobile Business MindsetAmong 688 respondents, 46% have deployed mobile apps, with an additional 24% planning to in the next year. Soon all apps will look like mobile apps – and it's past time for those with no plans to get cracking.