I’m working on a business discussion question and need an explanation to help me understand better.Instructions(Chapter 10)Crowdsourcing is not only used for relatively simple tasks such as designing a Web site or designing a case for a smartphone. Today, it is increasingly being used in more complex designs as well. Precyse Technologies provides supply-chain products and solutions that assist organizations in tracking their inventories using RFID technology.
It was having difficulty improving the performance and battery life of a particular RFID device; there were not adequate internal resources to tackle the problem. So, Precyse asked InnoCentive, a crowdsourcing provider, for assistance, believing that crowdsourcing would provide quick access to a worldwide talent pool and a higher return on investment (ROI). Ultimately, the company received more than 300 ideas from global experts for solving its problem. It narrowed the pool down to three finalists, from which a winner was chosen. The whole process took approximately four months, and Precyse estimated that it saved the company $250,000.Answer the following questions:What are some typical applications of crowdsourcing?
What are some advantages of crowdsourcing?
How could crowd-sourcing reduce the systems design cost?
Are there certain problems you would not want to use crowdsourcing to solve?
Make sure to include your in-text citations and works cited list, and respond to at least two of your peers.
Requirements: As long as it needs to be to complete the discussion
