Tuesday, September 24, 2013

Individual and business-level impacts of Web 3.0


One key feature of Web 3.0 is that it will be able to address the lack of structure and organisation one sees in Web 2.0. The sheer amount of information that is available, the rate at which new information is being published and the inability of Web 2.0 to integrate existing data limit the use of information by users and organisations. Web 3.0 technologies will be greatly enhanced by increased levels of hyperconnectivity between people and devices, complimented by widespread connectivity.

 
One of the main individual-level benefits of Web 3.0 is the personalisation of users’ interactions with their devices. Information will be organised in a more contextual manner, which will make searches more powerful than the algorithms used for Web 2.0 searches. Information will be further personalised based on the individual’s behavior and location. Semantic technologies will, based on an individual’s preferences and interests, gather and package relevant information. Devices will communicate better with each other. For example, it will be possible to log onto your work personal computer using your smart phone and access the network. Internet experts envisage Web 3.0 as a personal assistant that knows practically anything about a particular person and can access all the information on the Internet to answer a question in a way that makes sense to the person.

 
The gradual pervasiveness of the Web 3.0 technologies will present organisations opportunities to enhance efficiencies and build intelligence into business strategies and processes. Businesses will have clearer understanding of customer and employee needs, and respond appropriately to these. Business decisions will be based on more and better business intelligence, both from within and outside the organisation. Companies will have better access to customer data and this will be used to create user specific marketing approaches and products. Organisations will have to go beyond merely creating content by defining a context that links the context to their target market.

 
Web 3.0 will present unparalleled opportunities for businesses to connect and communicate with customers, and also analyse data from their online activities. Businesses will either have to develop strategies to leverage this big data or hope to survive without utilising it. Some companies are already adopting elements of Web 3.0. Amazon, for example is using such technology to provide recommendations to customers based not only on their browsing and buying records, but also those of customers with similar records.

 
Trends such as big data and Web 3.0 have changed how organisations view their data. Data is fast gaining prominence as a strategic business tool. Organisations at the forefront of adopting these trends are recruiting the requisite skills and some have created positions such as the Chief Data Officer.

 

Danny Karam, a senior associate at Booz & Co expects the online media and retail industries to be extremely impacted upon by Web 3.0 and recommends the following steps are crucial in making the transition to Web 3.0:


·         Open up business systems to the internet.

·         Move to real-time analytics and processing.

·         Structure data so that it can be used more effectively.

·         Develop internal web and data talent.

·         Involve customers in all parts of business through social media.

 
A possible unintended consequence of Web 3.0 is that home pages will lose relevance. A user will no longer see the need to go to his/her favourite news website, but will rather search for the sites that present the news on a particular story in a way that interests them the most.

 
References

 
Goodwin, B., (2011), Businesses should prepare for Web 3.0, says Booz&Co, Avaliable Online: http://www.computerweekly.com/news/2240105143/Businesses-should-prepare-for-Web-30-says-BoozCo [Accessed 24 September 2013]

 

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