Web 2.0: The New Language Of Business Has Arrived

“Web 2.0 is the language of the young,” says C N Ram, co-founder and director, Rural Shores Business Services. This statement encompasses the future of business and communication, not just in our country, but worldwide as well. Web2.0 has changed the way people communicate not just personally but professionally as well. According to Wikipedia the term ‘Web 2.0’ is commonly associated with Web applications, which facilitate interactive information sharing, interoperability, user-centric design and collaboration on the World Wide Web.

The Web 2.0 Flight

So, how exactly does Web 2.0 help business grow and expand? As aptly put by Paul Coby, CIO, British Airways, Web 2.0 is a catchy phrase that tends to encompass all sorts of things and it is also enabling interesting technological changes. “Web2.0 is more about social interaction and we have tried to use it on various business fronts. For example, we have put up a site through which employees, including the cabin crew and pilots, can share their views and suggestions with other crew members. Many such implementations will change the face of airline operations in the days to come”.

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That day seems to be arriving on wings. And not just for the airline industry in particular, but the entire business community in general. “Web 2.0 is the way the young interact. It is not a mere platform but a way of life. And companies need to realise this and work accordingly. Any company that plans on surviving beyond four or five years has to target this audience in its own language i.e. Web 2.0,” says Ram.

According to Diptarup Chakraborti, principal analyst, Gartner, the psychographic profile of a person visiting such sites is that of a high spender. “He has the means to spend and is willing to do it as well. He also spends around two to three hours of his day online, which is more than enough for a company to get the idea of its product across. Also, the fact that the delivery mode is improving day by day, the platform is becoming more and more effective makes things simpler. The personalised nature of this platform is what makes it a favourite amongst the masses.”

Bonding Internally

Apart from customers, Web2.0 is also an interesting and effective way of knowing your potential employees. As Chakraborti says, “Social networking sites are an excellent way of bonding with your existing and prospective employees. The best part is this is an extremely subtle way of doing it, which makes everyone involved more comfortable”.

Sandeep Phanasgaonkar, CTO and president, Reliance Capital, says, “Web 2.0 is the future and there are no two ways about it. As CIOs, we are expected to provide our customers and the company interesting ways to sell products and build the company’s brand name as well. Web2.0 is the most interesting way that is available to us in today’s day and age. In some time, it will become necessary for everyone to look at this tool to better their business”.

But isn’t Internet still a problem in the country? Yes, a lot of executives admit to this reality. However, where there is a will, there is a way. Facebook, an extremely popular social networking site amongst the young and old alike, has come out with Facebook Lite, for use in areas where high-speed Internet connections are sparse or non-existent. “India is one of the countries that was originally targeted by Facebook Lite, and it was the first test space the site launched in several months ago. India also represents an area where Facebook is growing very fast,” says M G Siegler, in an article in Tech Crunch. India being chosen as a test pad for Facebook Lite is a clear indication of the popularity of such websites in the country.

The Future Is Here

“The upcoming generation is being raised on these technologies, so they expect it as a form of collaboration. Our sales force certainly isn’t thinking Twitter, but it was not so long ago that no one thought banking at your ATM would be widespread. Anyone, who can build collaboration that meets the fabric of the company, meeting the culture to solve problems, will have a definite competitive advantage,” says Karenann Terrell, corporate VP & CIO, Baxter; former VP & CIO, Chrysler Group & Mercedes Benz North America, according to a blog entry on the Churchill Club Event – CIO Agenda 2010: What the Customer Wants – by Ramon Chen, Master Data Management Software Platform Provider.

Even though companies realise the importance of emerging social media, we do not see them really adopting this platform the way it deserves to be. According to Chakraborti, in India most of the companies do more of a lip service than actual work as far as Web 2.0 is concerned. “They will have one Twitter account that will get updated in a year. There is no strategy around it. There is a need for companies to realise its potential and have people working towards it.”

How Far To Go?

Expounding on this thought from a CIO point of view, Phanasgaokar says that security is still a concern for most actually. “How much access to give, whom to give it to and how to give it are questions that still remain unanswered. There are companies that are having their own intranet social networking sites, but then at the end of the day, we will all have to log on to the social networking sites outside. There is no way out of that.”

As far as security is concerned, Chakraborti is of the view that CIOs need to formulate a policy to address the security concerns revolving around such sites. “For example, a policy of what can go out and what can come in can prove helpful at this time.”

On a concluding note he says, “Looking back at IM (instant messaging) 10 to 15 years ago, some tried to block it, some embraced it. Most companies have to face the fact that these are becoming defacto business tools. Controlling ID management at the front end is going to be the key in this game.”