How Crowd Science Drives Innovation

HOW CROWD SCIENCE DRIVES INNOVATION #ideasquad To join in on the conversation, search or use the hashtag In a world where innovation is necessary for business success, it's imperative for enterprises to continue executing innovation programs that will drive and impact business objectives. CROWD SCIENCE is the way for enterprises to gather the information they need to do this effectively. Did you know? 61% of CEOS worlwide say that innovation is a priority or primary focus within their business What is CROWD SCIENCE? CROWD SCIENCE is the practice or method of obtaining and analyzing ideas, information, and concepts from a large group of people, typically in an online environment. Using data analysis and algorithms, crowd science creates a direct correlation between ideas and executable strategies. It fosters innovation management. mindjet borative Crowdsourcing Ideas Concept Innovation Content Strategies Crowdsourcing is a practice of mass ideation; CROWD SCIENCE leverages data analysis and algorithms to provide strategic insights ideator ablisned crite that allow CROWD SCIENCE depends on a handful of elements: for consistent, repeatable assessments Each of these elements is needed to provide the data-driven picture of good ideas. How CROWD SCIENCE Identifies Good Ideas The idea threshold is the point (or number of criteria met) that means an innovation has potential and should be supported. Innovators (people who come up with great ideas) and discerners (people with a decent track record of supporting innovations that pan out) tend to group around ideas that have high value and potential. By tracking the behavior of innovators and discerners, it's possible to identify the idea threshold that's appropriate for your business. Innovation management systems, like our own SpigitEngage, provide crowd-driven decision making backed by algorithms, resulting in: Benefits of CROWD SCIENCE Systematic idea graduation Workflows becoming more efficient, and SpigitEngage Enterprises harnessing the power of the crowd to leverage executable innovation. Large organizations and enterprises should use CROWD SCIENCE to spearhead their innovation programs to: Create more innovative Increase agility to respond to the changing technology landscape Gain better insight into customers products and services CROWD SCIENCE allows you to make educated decisions about innovation programs. How to Implement Crowd Science Effectively Use Social Dymamics Engagement is the key to utilizing crowdsourcing, and social media is the perfect place to initiate it. Bonus: Most people associate sharing ideas, having discussions with colleagues, and browsing through everyone's comments with leisure. Therefore, crowdsourcing in a work environment drives ideation and brainstorming. Make Collaboration Purposeful Be aware of what's adding or detracting to the business. When an idea is in motion, narrow participants down to those who can drive the idea through to completion to avoid bottlenecks. Do the Math CROWD SCIENCE is highly mathematical process, which should be backed by algorithms and data-driven components. Track Your Innovation Pipeline The heart of crowd science starts with measuring. Create automated and customized reports, and use predictive analytics to identify future trajectories based on historical patterns. Real-Life Example of CROWD SCIENCE 850+ Accenture wanted insight into emerging IT trends, so they gathered ideas and information in a trends spotting contest. According to Accenture's study, while using Mindjet's SpigitEngage, "over 850 participants actively engaged in contributing, voting and developing the vast collection of ideas." CROWD SCIENCE, coupled with innovation manager, allows you to take your innovation efforts from lucky to logical. Want to learn more? Check out Mindjet's SpigitEngage to see how the right innovation management process can help your business rise above the noise. Infographic by Sponsored by Marketing TechBlog mindjet marketingtechblog.com mindjet.com Sources: http://blog.mindjet.com/2014/02/4-key-factors-crowd-science-done-right/ http://blog.mindjet.com/2014/02/crowd-science-innovation-driving-outcomes/ http://www.accenture.com/Microsites/it-technology-trends-2014/Pages/home.aspx#digital-business.aspx/section4 http://blog.mindjet.com/2014/02/crowd-science-makes-sense-part-i/ http://blog.mindjet.com/2014/02/crowd-science-makes-sense-part-ii/ crowd