Web 2.0 is underexploited

How to do Web 2.0

Most companies have taken the leap to use Web 2.0 technologies (which encourage user collaboration, social networking and web services) but a report from McKinsey finds they're under-exploiting this valuable tool.

by McKinsey Quarterly
Last Updated: 23 Jul 2013

More than three-quarters of executives surveyed said they planned to maintain or increase their investments in Web 2.0 and saw it as strategic for their company. Early movers were particularly pleased with their decision, and 24% of those who called themselves early movers or fast followers said that in retrospect they would have liked to move even faster. As ever, speed is of the essence in technology.

Off the nine Web 2.0 trends, web services were by far the most popular (80% of companies). Peer-to-peer networking and collective intelligence were used by just under half of respondents, mostly to facilitate communication with customers (70%) and encourage internal collaboration within the organisation (75%).

About two-thirds of companies using Web 2.0 said that the technologies gave them a competitive advantage, although most of them still shied away from using the full range of tools Web 2.0 offers. A third of respondents also said they still considered Web 2.0 an experiment.

Enthusiasm for Web 2.0 technologies also varied across sectors and countries, with China and India fast catching up with the West in terms of investment. After a cautious start, the retail sector also seems set to move aggressively to the next generation of internet technologies.

Source:
How businesses are using Web 2.0: A McKinsey global survey
The McKinsey Quarterly
Review by Emilie Filou

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