What is crowdsourcing? Crowdsourcing is using collective intelligence gathered from the public and using that information to complete business-related tasks. These tasks are normally completed by the company or a third-party service provider, but through crowdsourcing the public assists in the completion of these tasks. Companies are often attracted to crowdsourcing because it expands their talent pool and is often free. Crowdsourcing also allows a company to gain insight into their customers and what they desire.
Crowdsourcing is a term that was coined in 2006 by Jeff Howe, contributing editor to Wired Magazine. He currently writes the blog CrowdSourcing.com.
Also Known As: fansourcing, crowdcasting, mass collaboration
An example of CrowdSourcing is iStockPhoto
. They allow amateur and professional photographers, illustrators and videographers to upload their work and earn royalties when their images or videos are bought and downloaded.