Book excerpt: In an era of an economy based on knowledge and Web 2.0 technology, knowledge is the foundation for improving the decision-making processes and relations between people both in and outside of an organization. Providing new and unique sources of knowledge outside organizations enables innovation and shapes competitive advantage. Crowdsourcing and Knowledge Management in Contemporary Business Environments is a collection of innovative research on the methods and applications of crowdsourcing in collaboration, idea implementation, and organizational development. Highlighting a range of topics including data analytics, crowd computing, and open innovation, this book is ideally designed for business managers, business professionals, business and social researchers, graduate-level students, and academicians seeking current research on the mechanisms of knowledge management in crowdsourcing.