In addition to the familiar role that social media now plays in marketing, we see at least four applications of social technologies that will be important for businesses and other organizations in the next few years: as an increasingly powerful platform for distributed problem solving, a collaboration and coordination tool, a feature that can be added to any digital activity to create new capabilities, and as the basis for new types of business organizations.5
Distributed problem solving. Enterprises increasingly use social networks to solve problems, often by “crowdsourcing” answers from consumers, experts, employees, and talented amateurs. Even very large companies with extensive internal capabilities are creating open competitions in which participants offer ideas for new product features, provide software codes, or help with customer service. In some cases, companies are crowdsourcing freelance and temporary talent to work on a project.
Many organizations rely on distributed problem solving, tapping the brain power of customers and experts from within and outside the company for breakthrough thinking. Pharmaceutical major Boehringer Ingelheim sponsored a competition on Kaggle (a platform for data-analysis contests) to predict the likelihood that a new drug molecule would cause genetic mutations. The winning team, from among nearly 9,000 competitors, combined experience in insurance, physics, and neuroscience; and its analysis beat existing predictive methods by more than 25 percent. RTL Group, the European entertainment network, uses social media to create viewer feedback loops for popular shows such as “The X Factor”, helping increase audience size.
Collaboration and communication. The MGI research noted that reading and answering email, searching for information, and collaborating with colleagues consume a large percentage of knowledge worker time. By using a social platform to communicate and share information, MGI estimates, companies can see improvements of as much as 25 percent in knowledge worker productivity by more efficiently and effectively communicating and finding information and expertise, partly by uncovering the “dark matter” that would otherwise lie buried in corporate emails. Communications on social platforms form an easily searchable record, providing valuable answers to questions for everyone who has access, not just the email recipient. Potentially, this represents what could be a great leap in productivity for what are usually a company’s most highly paid personnel—the knowledge workers.
In addition to the familiar role that social media now plays in marketing, we see at least four applications of social technologies that will be important for businesses and other organizations in the next few years: as an increasingly powerful platform for distributed problem solving, a collaboration and coordination tool, a feature that can be added to any digital activity to create new capabilities, and as the basis for new types of business organizations.5
Distributed problem solving. Enterprises increasingly use social networks to solve problems, often by “crowdsourcing” answers from consumers, experts, employees, and talented amateurs. Even very large companies with extensive internal capabilities are creating open competitions in which participants offer ideas for new product features, provide software codes, or help with customer service. In some cases, companies are crowdsourcing freelance and temporary talent to work on a project.
Many organizations rely on distributed problem solving, tapping the brain power of customers and experts from within and outside the company for breakthrough thinking. Pharmaceutical major Boehringer Ingelheim sponsored a competition on Kaggle (a platform for data-analysis contests) to predict the likelihood that a new drug molecule would cause genetic mutations. The winning team, from among nearly 9,000 competitors, combined experience in insurance, physics, and neuroscience; and its analysis beat existing predictive methods by more than 25 percent. RTL Group, the European entertainment network, uses social media to create viewer feedback loops for popular shows such as “The X Factor”, helping increase audience size.
Collaboration and communication. The MGI research noted that reading and answering email, searching for information, and collaborating with colleagues consume a large percentage of knowledge worker time. By using a social platform to communicate and share information, MGI estimates, companies can see improvements of as much as 25 percent in knowledge worker productivity by more efficiently and effectively communicating and finding information and expertise, partly by uncovering the “dark matter” that would otherwise lie buried in corporate emails. Communications on social platforms form an easily searchable record, providing valuable answers to questions for everyone who has access, not just the email recipient. Potentially, this represents what could be a great leap in productivity for what are usually a company’s most highly paid personnel—the knowledge workers.
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