a software solution for the f inancial and market data industry
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Crowd Computing: The Revolutionary Evolutionary Solution to the Content Industry’s Problems. A software solution for the f inancial and market data industry. Adam Devine VP | Product Marketing & Partnerships CrowdComputing Systems, Inc. NFAIS Annual Conference February 25 , 2014. - PowerPoint PPT PresentationTRANSCRIPT
A software solution for the financial and market data industry
Crowd Computing:The Revolutionary Evolutionary Solution to the Content Industry’s Problems
Adam DevineVP | Product Marketing & PartnershipsCrowdComputing Systems, Inc.
NFAIS Annual Conference February 25, 2014
A relatable problem faced by content providers: do more with less.
CUSTOMERwants more, faster, and
cheaper content sets
DATAis rising in volume,
variety and velocity
Maxed-out 15-person team facing budget cuts. 40,000
legal entity
records updated 1x / year
The content industry is struggling.
SHRINKING MARGINS
COMMODITIZATIONINDUSTRIALIZATION
RISING COSTS
REGULATIONSRISING WAGESINEFFICIENCY
Data providers are hitting two big road blocks.
WORKFORCE
- UNSCALABLE- INFLEXIBLE- SLOW- EXPENSIVE
TECH
- GUI- SOURCING- PROCESSING- ETL
You’ve probably squeezed all of the potential productivity out of your FTE
workforce.
You may have even added automation and crowdsourced / freelance workers.
AUTOMATION(NLP, scrapers)
CROWDS(crowdsourcing,
freelancers, outsourcing, BPO)
EMPLOYEES(subject matter
experts)
POLL: Do you crowdsource content / data
work?
1. WE HAVEN’T TRIED CROWDSOURCING
2. HAVE EXPERIMENTED WITH CROWDSOURCING
3. CROWDSOURCE SOME OUR WORK
4. WE HAVE MAXIMIZED OUR USE OF THE CROWD
But in most businesses, there are walls between these resources.
AUTOMATION CROWDS EMPLOYEES
POLL: True or false….
“Our automation tools, distributed workers and subject matter experts are not
integrated into the same workflows.”
1. TRUE
2. FALSE
Crowd computing combines these three resources in the
cloud.
AUTOMATION CROWDS EMPLOYEES
Data providers are hitting two big road blocks.
WORKFORCE
- UNSCALABLE- INFLEXIBLE- SLOW- EXPENSIVE
TECH
- GUI- SOURCING- PROCESSING- ETL
Crowd computing is a high-performance hybrid workforce
solution.
A crowd computing approach maximizes automation and the use of crowds.
Month 1 Month 2 Month 3 Month 4 Month 5 Month 60%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Employees
Employees
EmployeesEmployeesEmployeesEmployees
Crowd
Crowd
Crowd
Crowd Crowd Crowd
Automation
AutomationAutomationAutomationAutomationAutomation
AutomationCrowdEmployees
Crowd computing is enabled by an intelligent work management platform.
SOU
RCEPRO
DU
CT
CONTENT PROCESS
SaaS WORK PLATFORM
AUTOMATION CROWDS EMPLOYEES
So how did the crowd computing approach make 40,000 “tear sheets”
more profitable?
X 40,000
Crowd computing increased automation, reduced headcount, and cut production
time.
KPIs CAPTIVE CC APPROACH
HEADCOUNT: 15 4AUTOMATION: 0% 94%
TIME: 1 year 1 month
BPO could never deliver these results.
We’ve built a software platform that creates and manages a hybrid workforce to create
content.
Many of the leaders in the financial content industry are using it.
