Please enable JavaScript.
Coggle requires JavaScript to display documents.
Collective Intelligence - Coggle Diagram
Collective Intelligence
Applications
Elicitation of point estimates: Here, the goal is to get an estimate (in a single value) of something. For example, estimating the weight of an object, or the release date of a product or probability of success of a project etc. as seen in prediction markets like Intrade
Opinion aggregation: In this situation, opinions are gathered from the crowd regarding an idea, issue or product. For example, trying to get a rating (on some scale) of a product sold online (such as Amazon's star rating system). Here, the emphasis is to collect and simply aggregate the ratings provided by customers/users.
Idea Collection: In these problems, someone solicits ideas for projects, designs or solutions from the crowd. For example, ideas on solving a data science problem (as in Kaggle) or getting a good design for a T-shirt (as in Threadless) or in getting answers to simple problems that only humans can do well (as in Amazon's Mechanical Turk). The objective is to gather the ideas and devise some selection criteria to choose the best ideas.
Market judgment: Because of the Internet's ability to rapidly convey large amounts of information throughout the world, the use of collective intelligence to predict stock prices and stock price direction has become increasingly viable. Websites aggregate stock market information that is as current as possible so professional or amateur stock analysts can publish their viewpoints, enabling amateur investors to submit their financial opinions and create an aggregate opinion.
-
-
-
Definition
Collective Intelligence: refers to a group or team's combined capacity and capability to perform a wide variety of tasks and solve diverse problems
Benefits
Improving productivity : Allowing your team to give feedback in meetings and sessions, in which you value their opinion and take it into consideration. Thus, you can improve productivity by making every member feel responsible for their own environment.
Effective Coordination : It allows every team member to find new solutions, findings, and more efficient ways which saves time and allows them to other works and better coordination.
Improving creativity: When employees collaborate their knowledge to form solutions to organisational issues and actively see their efforts contributing to change, they feel as if they are key players. This results in them being more motivated, working harder and often being more creative.
-