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'Crowd-sourcing is the process of getting work or funding, usually online, from a crowd of people. The word Crowd-sourcing is a combination of Crowd & Outsourcing It is powered by new technologies and social media. Crowd-sourcing can take place on many different levels and across various industries. Crowd-sourcing can provide organizations with access to new ideas and solutions, optimization of tasks, and reduced costs. Millions of people, connected by the Internet, are contributing ideas and information to projects big and small. Crowd-sourcing, is helping to solve tricky problems and providing localized information with the right knowledge, contributing to the crowd.
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Listed below are the advantages and disadvantages of distributed knowledge-
Advantages
1. It saves time and money Normally it costs a lot of money to share the information to everyone who works for you, especially when they are physically away. But when people come together, digitally, through the concept of distributed knowledge, the cost reduces significantly.
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3. It offers higher probabilities of success To increase the chances of success for any business we need to ensures that you receive valuable input from the crowd. Digital crowdsourcing platforms like Wikipedia for example guarantees that people are able to work on any project from any place and at any time.
Disadvantages
1. Danger of manipulation Using these platforms increases the risk of the product being manipulated.It is possible that competitors can have a negative influence on your innovation project by giving false feedback. For example, if you use Facebook to ask for opinions on a certain product, this method is relatively easy to manipulate.
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