One of the most exciting things about the evolution of business intelligence is the fact that it continues to open new doors for the way that data can be utilized. A major reason that business intelligence has been able to make such strides in recent times has to do with how collective intelligence has started to play a role in many business and analytical tasks. As such, the future of work relies just as much on individual intelligence as large groups of people and group performance. When there isn’t a sole single statistical factor, factor analysis and information technology open entirely new ways to complete tasks. Learn more about the role that collective intelligence and artificial intelligence play a role in the way organizations are built below.
What is collective intelligence?
Collective intelligence can feel like a bit of a nebulous phrase with a broad array of potential definitions; however, at its heart, collective intelligence hinges on the success of group performance. Basically, the larger the group size, the larger the number of different tasks that will be improved upon, thanks to the size of that group. Group performance allows different tasks to be completed with a speed and efficiency impossible by a single individual. Even though human intelligence can be quite deep on a singular level, when a collective is tackling an issue, problem, or task, it’s possible to complete a wide range of tasks much more efficiently, thanks to the strengths of the group’s performance. It’s worth noting that collective intelligence can emerge from both collaboration or team performance and the competition between different groups of people.
How is collective intelligence helping reshape the way organizations are structured?
Data analytics and data virtualization have already changed how companies operate, so it’s likely no surprise that collective intelligence is also offering new ways of operating. While the idea of collective intelligence and collective behavior has been around for many years, as group sizes have increased thanks to how technology connects us, a group’s ability has been able to increase significantly. Online platforms like Wikipedia and Google are all an example of how group intelligence or collective intelligence leads to staggeringly large leaps forward in the world.
A platform like Wikipedia wouldn’t have been possible without the interaction afforded to individuals thanks to the internet. As such, as a business, it’s a good idea to think about how you can foster partnership and interaction in a variety of group sizes internally and externally. For example, you may want to host a symposium to solve a specific problem and work collectively with other companies in your sector. Or, you may decide that to boost your productivity and launch a major new initiative, it’s worth collaborating across multiple departments that wouldn’t necessarily work together. Having the opportunity to use group intelligence and factor analysis in this way ultimately ensures that you are operating at your maximum ability. Especially when data is introduced, and algorithms can be leveraged to build upon crowdsourced data, the power of the crowd becomes even more substantial.
To stay at the forefront of business intelligence, it’s crucial that you have an understanding of the myriad ways that that intelligence, data, and overall analyses are being used. Reading up on the study of collective intelligence and recent research surrounding how the addition of data collected from a crowd of users can impact your business operations is just one aspect of using that data. Whether you use that data in predictive analytics or to improve your company culture, collective intelligence is reshaping how organizations operate.
Featured Photo by Morgan Housel on Unsplash
