Potential Contributions of Information Aggregation and Knowledge Brokering to Improve Business Process Performance

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Assessing the Potential Contributions of Information Aggregation and Knowledge Brokering To Improve Business Process Performance Introduction The depth and value of tacit knowledge an organization has within its own structure and surrounding ecosystem is significant and potentially transformative in its value. Combined with the explicit knowledge organizations possess, which according to empirically-derived studies, is just 30% of total knowledge captured (Wilhelm, Kohlbacher, 2011), organizations have latent potential to improve processes yet are not capturing it. The role of Information Aggregation Mechanisms (IAM) (Chen, Plott, 2002), prediction markets and methodologies (Dye, 2008), and the potential to transform businesses processes with this collective intelligence (Billington, Davidson, 2010) is the focus of this analysis. Insights gained from the literature review leading up to this study indicate that a more precise form of crowdsourcing is emerging gaining insights into recurring and predictive-oriented events (Dye, 2008). The emergence of "hidden profiles" or concentrated groups of experts who have the majority of tacit knowledge an organization requires to innovate are starting to emerge in the work retailer BestBuy is doing for example (Dye, 2008). The power of the IAM mechanisms combined with collective intelligence to completely re-order an industry can be seen in the emergence of Linux as the open source platform of choice for many enterprises globally

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