Crowdsourcing seems to be the in-thing nowadays, so if you do not know what crowdsourcing is, you are off. As simple as that. So just to make sure that you are not a dinosaur, here's something about what crowdsourcing is.
Crowdsourcing is actually a combination of two words: Crowd and Outsourcing. It was a term coined by journalist Jeff Howe in 2006. Crowdsourcing, aka open sourcing or fansourcing, is the practice of companies making an open call to a broad community to solve a problem. By involving more people, companies hope to get a better solution.
Through crowdsourcing, businesses get connected to their audiences and customers. The product developed could be better as it is developed through collaboration with customers. It is already market tested as it is being developed. Crowdsourcing helps to reduce the research cost of companies because the ideas come from freelancing communities. At the same time, it also provides opportunities for budding designers and innovators to enter the market.
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