As crowdsourcing, social media and other forms of idea generation and customer engagement gain traction, a gap has developed in the ability for organizations to effectively use the type and volume of data obtained.
As reported by technology industry publication Sys-Con Media, “the promise of smarter decisions through open data remains largely unrealized. Relatively few software developers have worked to transform open data resources into actionable tools that create real public good… the costs of harnessing data often simply outweigh the benefits for many developers. Changing the value proposition for app developers requires a new set of best practices.”
New ventures are starting to address this need. One of those is CrowdControl, which recently launched an application designed to deliver high-quality output, low-cost and scalable crowdsourcing for enterprises requiring big data management.
According to a press release, the application can “read the pulse” of consumer interactions through posts, comments and tweets on social media venues. They tackle the challenge of making sense of this collective outlook and of user sentiment, for example, determine whether a tweet is sarcastic. With this type of data qualification, according to CrowdControl, organizations can better determine where and why strong bridges are being formed between brands and humans.
The Sys-Con article underscores the importance of such services. “How companies harness the power of their data is no longer just one factor in commercial success, it is becoming the factor. Data trading and data innovation is creating new data utility companies – new platforms – creating windfall gains for those businesses that see the economics of data as a service.”