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  • Crowd Intelligence

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    Alper Orhan
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    Crowd intelligence, also known as the wisdom of crowds, is the concept that a large group of people can collectively reach a better conclusion than an individual expert. It has been observed that estimates, decisions, and problem solving based on crowd inputs are often more accurate. Some advantages of crowd intelligence include faster cognition, independent opinions not influenced by others, decentralization by drawing on local knowledge, and aggregation leading to collective decisions. However, there are also disadvantages such as a lack of diversity limiting varied thinking, centralization preventing local knowledge, insufficient information dissemination between groups, and a tendency towards imitation of past patterns instead of considering the current environment.

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    CROWD INTELLIGENCE

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    Crowd intelligence, also known as the wisdom of crowds, is the concept that a large group of people can collectively reach a better conclusion than an individual expert. It has been observed that estimates, decisions, and problem solving based on crowd inputs are often more accurate. Some advantages of crowd intelligence include faster cognition, independent opinions not influenced by others, decentralization by drawing on local knowledge, and aggregation leading to collective decisions. However, there are also disadvantages such as a lack of diversity limiting varied thinking, centralization preventing local knowledge, insufficient information dissemination between groups, and a tendency towards imitation of past patterns instead of considering the current environment.

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    © All Rights Reserved
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    6 views9 pages

    Crowd Intelligence

    Uploaded by

    Alper Orhan
    Crowd intelligence, also known as the wisdom of crowds, is the concept that a large group of people can collectively reach a better conclusion than an individual expert. It has been observed that estimates, decisions, and problem solving based on crowd inputs are often more accurate. Some advantages of crowd intelligence include faster cognition, independent opinions not influenced by others, decentralization by drawing on local knowledge, and aggregation leading to collective decisions. However, there are also disadvantages such as a lack of diversity limiting varied thinking, centralization preventing local knowledge, insufficient information dissemination between groups, and a tendency towards imitation of past patterns instead of considering the current environment.

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    of 9

    WHAT ARE THE ADVANTAGES &

    DISADVANTAGES OF

    CROWD
    INTELLIGENCE?

    www.benchmarksixsigma.com
    MEANING

    Wisdom of Crowds or Crowd


    Intelligence is the concept where
    the collective wisdom of a large
    group of people is better than the
    wisdom of an individual

    www.benchmarksixsigma.com
    It has been observed that results
    for estimations, decision making
    and problem-solving with inputs
    from a crowd are more accurate
    as compared to an individual

    www.benchmarksixsigma.com
    ADVANTAGES

    Cognition:
    Individual thinking and opining are
    much faster than the
    contemplation of experts or
    expert committees, which often
    offer biased decisions out of each
    other’s influence or under external
    force.

    www.benchmarksixsigma.com
    Independent opinions
    Not influenced by others'
    opinions.
    Decentralisation
    Drawing opinions on local
    knowledge.
    Aggregation
    Assembling all individual decisions
    and leading to a collective
    decision.
    Trust
    Every person has trust in the
    collective group and respects its
    decision.

    www.benchmarksixsigma.com
    DISADVANTAGES

    Homogeneity/Lack of
    diversity:
    There has to be enough diversity
    to generate much variance in
    thought processes and private
    information.

    Centralization:
    The opinion must be derived from
    local knowledge rather than a
    centralized controlling factor.

    www.benchmarksixsigma.com
    Division/Lack of
    dissemination of information:
    There needs to be a free flow of
    information from one subdivision
    to another, which can lead to
    failures. For example, in the 9/11
    attack, the lack of information
    from one another led to the loss
    of intelligence in preventing such
    attacks.

    www.benchmarksixsigma.com
    Imitation:
    Individuals tend to use past
    patterns as it happens to be the
    easiest method. The focus should
    be on making correct decisions
    based on the current
    environment, rather than looking
    for any similar data from the past
    and imitating it.

    One example is forecasting by


    Sales professionals who add a
    small percentage to past
    performance without considering
    the current environment.

    www.benchmarksixsigma.com
    INQUIRE NOW!

    Learn about Crowd Intelligence in


    our Green Belt, Black Belt, and
    Master Black Belt programs.

    +91 98113 70943

    www.benchmarksixsigma.com

    https://tinyurl.com/BSSinquire

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