GigaOM Pro

Summary:

The outsourcing market as a whole is approximately a $115 billion industry, and the top 14 crowdsourcing firms alone brought in about $50 million in revenue in 2011. Many of those crowd workers will make something like $2 per hour. Clearly industries like medical transcription and mobile have much to gain: According to a study released in December by Everest Group and Lionbridge Technologies, crowdsourcing could save up to 70 percent when compared to traditional business-process outsourcing. So how do we harness this power? This report examines how to crowdsource an individual task, using MobileWorks as our example platform. We detail the ups and downs, ins and outs, and if it really is possible to reach your goal more quickly, cheaper, and faster.