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Study Proves: The Wisdom of the Crowd is Working

The crowd can be smarter than an individual, but only when the group is equally balanced and incentive-driven gamification is applied. What stands behind that and how big the impact of gamification is in this case, is now being looking into by sociologist from the University of Zurich. How exactly the collective intelligence becomes the Wisdom of the Crowd is being investigated by Heiko Rauhut, assistant the Department of Sociology of the University of Zurich and other scientists at the ETH Zurich. The sociological part is not the only point of interest, but the economical aspect in particular.

The Right Questions Bring the Right Answers

CrowdWorx makes use of the basics of crowdsourcing, meaning it builds on the collective intelligence of groups. The knowledge comes directly from the employees and stays within the company. The questions asked relate to future events and may refer to S&OP issues, risk management or the evaluation of ideas. What has to be remembered is that questions can only be answered with quantitative values. The unique thing about CrowdWorx is that the metrics and KPIs it gives in return are so accurate, that they can be used by managers directly.

Gamification with the Right Incentives Provides Better Results

To achieve the most accurate results Rauhut uses an incentive system based on the gamification principle: for each answer the participant receives a specific amount of money. CrowdWorx works according to the same principle: the participants receive points which are shown on a leaderboard and also can be exchanged for prizes. In this case, the closer the participants answer lies to the actual outcome, the more points the participants ultimately receives. The effectiveness of this has been proven by many case studies by CrowdWorx. Find out more here.
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