How many of us are aware of what web 2.0 technology means? As laymen we may have a very rudimentary idea and hence here is an attempt to focus on what web 2.0 technology is and what impact it has on the businesses and huge corporate conglomerates.
What is meant by web 2.0 technologies?
Web 2.0 technology is associated with those web applications which facilitate knowledge or information sharing, user-centered design, interoperability and also collaboration in a big way on the World Wide Web. This technology offers three major benefits in the form of enhanced user experience, DIY web and light weight models of web development.
Here are the technologies that support the above mentioned areas: Wikis, blogs, Mashups, podcasts, social networks, crowd-sourcing, virtual worlds, folksonomies and RSS filters. They impact the knowledge management, customer relationship management, rapid application development, collaboration and communication, training and innovation. When we take a look into each of these individual faculties we will be able to gain further insight into what specific impact the metrics have on each field.
Knowledge Management (KM): The individual is able to share knowledge, retrieve it, organize it and also leverage the same.
Customer Relationship Management (CAM): The user is able to effectively mine customer data, he is able to ‘touch’ more number of customers in a personalized manner, he is able to solicit customer concerns as well as insights and the web 2.0 technologies give him the ability to communicate effectively with the customers which is what all businesses are targeting.
Rapid Application Development (RAD): Through this ability, the user can modify, develop, support and improve applications in a fast and easy manner.
Collaboration and Communication: This facilitates coordination of discussions, reach wider range of people faster, audit various communications streams and synchronize different tasks and projects.
Training: With the help of Web 2.0 Technologies in this arena, the individual gets the ability to evolve or modify training content, support traditional training and asynchronous training and also distribute and codify training content.
Innovation: This enables the person to syndicate innovation and increase the initiatives in that direction. There is an ability to ameliorate the successful hit rates and productize in a cost effective manner.
Wikipedia is found to be an ideal example of the web 2.0 technologies and how knowledge could be shared. It has revolutionized the way in which people can share and publish information. Authoring tools of Web 2.0 enable all the users to create collaboratively, and organize action. The major impact could be felt in the benefits it brings along to the users and the benefits are reduced risks, closer relationship and interaction with the client base, increased responsiveness and also availability of real time data that will help in making quantifiable decisions.
With increasing adoption of the Web 2.0 properties businesses and companies have derived measurable benefits from the investments that they have made on the web. Be it the effective marketing or greater access to knowledge or low cost of carrying out ones business yet report higher yields, this technology has taken businesses by storm.
To sum it up, web 2.0 is definitely here to stay with its vast impact on every field in the nascent stages only. It is one true transformative force which is propelling all the companies in the world across industries towards newer ways of carrying out businesses.
Those who are able to act on this web 2.0 opportunity are bound to gain and get an advantage over their competitors in their respective markets. Effective marketing and increased knowledge sharing are the two most prominent benefits that the heaviest users of this application enjoy and they also have a quantifiable effect on every individual business.