IDIA 620: Information Culture - Network Economy


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IDIA 620: Information Culture - Network Economy

  1. 1. “The Power of the Swarm” Melda M. Washington Information Culture, October 15, 2012
  2. 2. Overview Introduction The Swarm Examples Conclusion
  3. 3. Introduction Focus on the few quotes that address the masses or the swarm:  Dumb parts, properly constituted into a swarm, yield smart results.  The aim of swarm power is superior performance in a turbulent environment.  The net demands wiser customers.  Expertise now resides in fanatical customers. The worlds best experts on your product or service, dont work for your company. They are your customers, or a hobby tribe.
  4. 4. The Swarm cont. The Internet made collecting the wisdom of crowds much easier than before. When diverse, independent and decentralized, their combined decisions are on point. Swarms can tell us where the next big trends are. If given free reign, the swarm is much more capable of setting up its own ethics and rules of operation than a formal group. It’s a stable, robust, and self-correcting system. The swarm is very efficient in policing themselves. It is in essence self-correcting and self-policing.
  5. 5. The Swarm cont. Digital Swarming  Is defined as the swarm of people, data, objects, and machines  is becoming a new model for how organizations work to address challenges and meet goals.  Is the new model that delivers information and support decision making across the network or collective  It addresses the need for agility in the face of rapid change
  6. 6. The Swarm cont. Facebook and Twitter are examples, while they seamless appear to operate without regulations, in actuality they follow well defined restrictions and rules.
  7. 7. Prediction markets where large groups of people or the swarm steer decision making on a large scale such as in the stock markets. they demonstrate the value of collective intelligence the ability to act collectively to make decisions and solve problems—even if the people in the groups aren’t always aware that’s what they’re doing.
  8. 8. The Wisdom of Crowds
  9. 9. IntradeIntrade is aprediction market.It allows you tomake predictionson the outcome ofhundreds of real-world events.Predictionmarkets find theprobability ofsomethinghappening - apredefined,uncertain futureevent.
  10. 10. The simExchangeUtilizes theWisdom ofCrowd to predictthe upcomingbest selling andtop rated videogames.Stock market forvideo gamesUse virtualmoney to buystock in games
  11. 11. HSXHollywood StockExchange is TheEntertainmentMarket™ where youcan buy and trademovies, stars andmore.Prices rise with ablockbuster openingPrices plummet witha bomb
  12. 12. Conclusion The network economy has shifted the focus from exchange of goods and services to exchange of ideas. At the forefront of this network economy and spreading these ideas are the champions of this exchange:  The diverse, independent and decentralized— Swarm.
  13. 13. References