The term collective knowledge is used when a large number of individuals contribute their knowledge and skills to a group. This collective knowledge has a positive effect on the knowledge of the entire group. As a result, the decisions and assessments made by a large, generally heterogeneous group of people achieve results that can compare with those of experts.
This phenomenon is an important to crowdsourcing because it represents a large scope of tasks for crowdsourcing platforms. The companies no longer need experts for many tasks or assignments. They can outsource them to the respective platforms and still achieve a high quality result similar to that of an expert.
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