IdeaConnection: Open Innovation success story: Open Innovation: Goldcorp Challenge

"The Goldcorp Challenge was launched in March 2000 and 400 megabytes worth of data about the 55,000 acre site was placed on the company’s website. Everything that the company new about the Red Lake mine was a mouse click away. Word spread fast around the Internet and within a few weeks submissions came in from all over the world as more than 1,000 virtual prospectors chewed over the data." There were 100 sites identified, 50% of them unknown to the company based upon this data. Goldcorp became one of the most profitable in the industry. This is an example of open data and collaboration. This type of challenge is being used increasingly as people "crowdsource" as they outsource their problem solving and R&D through the use of challenges. Challenges are also a way for the great, but unnoticed and unrecognized, to rise to the top. What if we opened up data that we collect on students for problem solving?

via Diigo http://www.ideaconnection.com/open-innovation-success/Open-Innovation-Goldcorp-Challenge-00031.html