Web 2.0 capabilities align very closely with mounting enterprise issues; and it’s changing the way that knowledge workers interact with information and one another. Web 2.0 and advanced forms of analytics support the most compelling challenge facing the 21st century Enterprise; the need to create sustainable competitive advantage. New forms of innovation and the speed of that innovation are the keys to creating that competitive advantage. The perfect storm of technology innovation referenced on this Blog will enable: 1) the inclusion of consumers, partners, employees, and other stakeholders in the innovation process. 2) The ability to collaborate, access, and act on growing amounts of information in a shorter timeframe. 3) Small groups to come together quickly to problem solve. 4) Customers to receive personalized products and attention. 5) The enterprise to meet customer demand for more customization and flexibility and create products and services faster, at far lower cost, with far less risk. 6) Employees to improve communication, productivity, and knowledge capture. 7) The increase of loyalty and revenues, while reducing sales and support costs. 8) The retention of tacit knowledge as key staff retires or moves on to other opportunities (baby boomer). 9) The attraction and retention of younger talent (the Internet generation).
These business imperatives are essential for the enterprise to compete: innovation is the only answer. Web 2.0 enables employees, partners, customers, consumers, government, and other stakeholders to participate in the innovation process, while advanced analytics provide actionable intelligence to accelerate it. When a phenomenon this large aligns so closely with the compelling needs of business, it is a clear sign that the time is now.