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Connecting to the Crowd


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Introduction to crowd-sourcing, crowd-rating and the potential of developing a crowd-funding platform.

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Connecting to the Crowd

  1. 1. Connecting to the Crowd11.08.2011 Richard von Kaufmann // co-founder // concepting director
  2. 2. Zipipop helps with social mediaguidance, marketing, analysis,concepting and collaboration.
  3. 3. The Wisdom of Crowds
  4. 4. The Wisdom of CrowdsFrancis Galton, 1906Butchered weight:Average of crowd guess: 1,197 poundsActual weight: 1,198
  5. 5. Jelly Bean JarAverage of 56 students=871Actual amount=850Only one student guessed better
  6. 6. Wisdom of the crowds at work
  7. 7. Hive Mind
  8. 8. Crowd-wisdom on the Web420m unique monthly visitors 60% of web-servers run Linux 40 million monthly visitors20 million articles300 languages
  9. 9. Upside down thinkingJimmy Wales, the founder of Wikipedia,is not fond of the word crowdsoucingbecause the etymology of the word isrelated to outsourcing — which is anupside down way of looking at what isgoing on online.“Here is something people are trying todo — let’s help them do that. And whatyou get out of it in the end maybe anamazing product” Jimmy Wales, founder of Wikipedia, talking at Internet Week Europe this week.
  10. 10. How Google uses crowd-wisdom link = vote
  11. 11. Crowdfunding is a reality
  12. 12. A Public Art project in New York
  13. 13. Public votes which projects are funded
  14. 14. Crowdfunding charity work
  15. 15. Prediction MarketsIn 2007, players in the Hollywood Stock Exchange correctly predicted 32 ofthe 39 major-category Oscar nominees and 7 out of 8 top-category winners.
  16. 16. Serious BusinessCorning, Renault, Eli Lilly, Pfizer,Siemens, Masterfoods, Arcelor Mittaland other global companies arelisted as Lumenogic (previouslyNewsFutures) customers.
  17. 17. Innocentive
  18. 18. Iceland’s crowdsourced constitution
  19. 19. More Finnish crowdsourcing
  20. 20.
  21. 21. Four conditions of a smart crowd:• Diversity of opinion• Independence• Decentralization• Aggregation
  22. 22. Diversity of Opinion• private information
  23. 23. Independence• not influenced by others
  24. 24. Decentralization• specialist, local knowledge
  25. 25. Aggregate • mechanism for turning private judgements into collective decisions
  26. 26. Scale it up• more input produces better results
  27. 27. information + errorcrowd error probability averaged = ~0(i.e -10+50-60+20=0)“information” with reduced error
  28. 28. Crowdsourcing SolutionsIn recent years there has been anumber of services showing howcommunities can collaborativelycome up with successfulsolutions to problems andquestions.
  29. 29. Web of Trust
  30. 30. Nokia supported crowd-rating platform
  31. 31. The power of intuition are New findings in cognitive science ) showing that intuition (gut feeling ensed can be thought of as “cond any experience” and in m ve circumstance s can be more effecti y. than in depth analytical stud
  32. 32. Rating parameters (intuition) User’s comparison to the wisdom of the crowd
  33. 33. How it can go wrongIf the conditions are not right it can go badly wrong.
  34. 34. Easily influenced
  35. 35. Information Cascade
  36. 36. Information CascadeGroup 30% better on average
  37. 37. The Non-conformist Imperfect information
  38. 38. Imperfect Information Better restaurant
  39. 39. Kiitos!Richard von KaufmannConcepting Director, Co-founderpuh. 045 11 222 73s-posti:
  40. 40. Slideshare Resources