Using Crowdsourcing To Setup a Nascar Team

We origianlly talked about using an Open Business Model with our Nascar Nextel Cup Team.
In Wilipedia they also call it Crowdsourcing. I hope this explains it further and shows you what we plan to do and what the results can be.

Thanks to Wikipedia for the following article

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Crowdsourcing
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This article has been tagged since November 2006.

"Crowdsourcing" is a neologism for a business model that depends

on work being done outside the traditional company walls: while

outsourcing is typically performed by lower paid professionals,

crowdsourcing relies on a combination of volunteers and low-paid

amateurs who use their spare time to create content, solve

problems, or even do corporate R&D. The term was coined by Wired

magazine writer Jeff Howe and editor Mark Robinson in June 2006.

Crowds targeted for crowdsourcing include garage scientists,

amateur videographers, freelancers, photo enthusiasts, data

companies, writers, smart mobs and the electronic herd.
Contents
[hide]

* 1 Overview
* 2 Advantages
* 3 Types of crowdsourced work
* 4 See also
* 5 External links and references

[edit] Overview

While not a new idea, crowdsourcing is becoming mainstream. Open

source projects are a form of crowdsourcing that has existed for

years. People who may not know one another work together online

to create complex software such as the Linux kernel, and the

Firefox browser. In recent years internet technology has evolved

to allow non-technical people to participate in online projects.

Just as important, crowdsourcing presumes that a large number of

enthusiasts can outperform a small group of experienced

professionals.

[edit] Advantages

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The main advantages of crowdsourcing is that innovative ideas

can be explored at relatively little cost. Furthermore, it also

helps reduce costs. For example if customers reject a particular

design, it can easily be scrapped. Though disappointing, this is

far less expensive than developing high volumes of a product

that no one wants. Crowdsourcing is also related to terms like

Collective Customer Commitment (CCC) and Mass Customisation.

Collective Customer Commitment (CCC) involves integrating

customers into innovation processes. It helps companies exploit

a pool of talent and ideas and it also helps firms avoid product

flops. Mass Customisation is somewhat similar to collective

customer commitment; however, it also helps companies avoid

making risky decisions about what components to prefabricate and

thus avoids spending for products which may not be marketable

later.

[edit] Types of crowdsourced work

* Procter & Gamble employs more than 9000 scientists and

researchers in corporate R&D and still have many problems they

can't solve. They now post these on a website called

InnoCentive, offering large cash rewards to more than 90,000

'solvers' who make up this network of backyard scientists. P&G

also works with NineSigma, YourEncore and Yet2.
* Amazon Mechanical Turk co-ordinates the use of human

intelligence to perform tasks which computers are unable to do.
* YRUHRN used Amazon Mechanical Turk and other means of

crowdsourcing to compile content for a book published just 30

days after the project was started.
* iStockphoto is a website with over 22,000 amateur

photographers who upload and distribute stock photographs.

Because it does not have the same margins as a professional

outfit like Getty Images it is able to sell photos for a low

price. It was recently purchased by Getty Images.
* Cambrian House applies a crowdsourcing model to identify

and develop profitable software ideas. Using a simple voting

model, they attempt to find sticky software ideas that can be

developed using a combination of internal and crowdsourced

skills and effort.
* A Swarm of Angels is a project to utilize a swarm of

subscribers (Angels) to help fund, make, contribute, and

distribute, a £1 million feature film using the Internet and all

digital technologies. It aims to recruit earlier development

community members with the right expertise into paid project

members, film crew, and production staff.
* The Goldcorp Challenge is an example of how a traditional

company in the mining industry used a crowdsource to identify

likely veins of gold on its Red Lake Property. It was won by

Fractal Graphics and Taylor-Wall and Associates of Australia but

more importantly identified 110 drilling targets, 50% of which

were new to the company.
* CafePress and Zazzle, customized products marketplaces for

consumers to create apparel, posters, cards, stamps, and other

products.
* Marketocracy, to isolating top stock market investors

around the world in head to head competition so they can run

real mutual funds around these soon-to-be-discovered investment

super-stars.
* Threadless, an internet-based clothing retailer that sells

t-shirts which have been designed by and rated by its users.
* MyChances.net utilizes crowdsourcing to generate

admissions information on American and Canadian universities. It

uses this data to predict, through statistical processes, the

odds a student has of getting accepted to a given school.
* Public Insight Journalism, A project at American Public

Media to cover the news by tapping the collective and specific

intelligence of the public. Gets the newsroom beyond the usual

sources, uncovers unexpected expertise, stories and new angles.
* Steve Jackson Games has maintained a large fan community

online since 1983, with the inception of the Illuminati BBS.

They actively encourage fan pages, and tap the community for

playtests, customer feedback, and volunteer product

representation (via the MIB program).
* And hundreds more

[edit] See also

* Configuration system
* Toolkits for User Innovation
* Buzzwords
* Wisdom of Crowds

[edit] External links and references

* The Rise of Crowdsourcing, Wired June 2006.
* Crowdsourcing: Consumers as Creators, BusinessWeek July

2006.
* Ears Wide Open: Is this the company of the future, Fast

Company Jan 2007. (R&D company using their customers as

developers)

Retrieved from "http://en.wikipedia.org/wiki/Crowdsourcing"

Categories: Articles lacking sources from November 2006 | All

articles lacking sources | Technology neologisms

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Thank you and if you wish to become a part of our team, please leave your contact info in the comments area.

Doug