Back in the year 2000 I worked on a software product that tested potential drugs based on algorithms applied to organic chemistry data. Why was the product important for customers at drug development companies? First, the program could explore many more potential drug formulas than any older methods. Second, a clinical test of a potential drug is very time consuming and expensive. Make a decision based on software, rejecting a drug, and the savings and productivity are huge. Only drugs that are really promising can then go to real life tests.
I see an analogy there. I think this is really what online sourcing is about:
1) Finding more potential candidates.
2) Spending less time and money screening unqualified people and more time talking to the qualified people. Continue reading...