Crowdsourcing is a relatively new business concept that utlilizes the “collective intelligence” of the public via blogs and other social networking/media sites. This business idea allows a company to save on having to hire or outsource to third party research companies or independent consultants. Instead, crowdsourcing can get the pubilc’s perspective on what they really want and expect from companies. This information is then incorporated into company objectives to deliver to the consumer in an effort to make more profits.
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