Tuesday, February 7, 2012

Crowdsourcing Has a Longer-term Payoff Than Originally Thought: Study

Joe McKendrick, February 6, 2012, "Crowdsourcing Has a Longer-term Payoff Than Originally Thought: Study," Smartplanet Blog.

From the article: "CMU researchers have determined that the crowdsourcing process actually has a lifecycle all it’s own, and it’s natural for initial enthusiasm to dampen, and ideas to seemingly “dry up.” As a result, organizers become discouraged and write off the concept as not working. But under the covers, a learning process, coupled with market dynamics, are at work.  The study, led by Carnegie-Mellon University professors Kannan Srinivasan, Param Vir Singh and graduate student Yan Huang, finds that crowdsourcing is not a misguided fad, and that done right,  it creates more knowledgeable consumers and, in time, leads to more efficient, lower-cost generation of high potential ideas."  Read more

See Also
Huang, Y., Singh, P.V., and Srinivasan, K., Crowdsourcing New Product Ideas Under Consumer Learning (December 18, 2011).