What is Crowdsourcing?
Jeff Howe or Wired magazine coined the word Crowdsourcing in 2006 saying “Crowdsourcing represents the act of a company or institution taking a function once performed by employees and outsourcing it to an undefined (and generally large) network of people in the form of an open call.” since then many people have found ways to expand the definition of Crowdsourcing. Crowdsourcing can be broken down into three groups: Creating, Organizing, Funding and Producing.
Creating
When people that would ordinarily not be connected get together and create something new.
Organizing
A company that creates a service which hosts and profits from content created by someone else.
Funding
People that pool money in order to fund a company, or individual.
Prediction
The Wisdom of the Crowd is used to product a future event, and or come up with the best outcome.