Get Business in a Virtual World: Exploiting Information for PDF

By Fiona Czerniawska

Info unquestionably represents one of many key aggressive guns of the subsequent decade, no matter if it takes the shape of monitoring the buying behavior of person buyers or altering the cost of airline tickets minute by way of minute to exploit alterations well known. the consequences for administration are large but so much businesses are nonetheless on the early levels of attempting to know how they could extract greatest price for his or her info resources. This ebook seems to be on the impression of this knowledge revolution and indicates how businesses can make the most info for aggressive virtue.

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Additional resources for Business in a Virtual World: Exploiting Information for Competitive Advantage (Macmillan Business)

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Most of you reading this book will probably be aware that, come the year 2000, much of the software on which your business depends may fail to continue working. Much early and even comparatively recent software used only two digits to THE TECHNOLOGICAL FOUNDATIONS 23 store the year part of a date. Come 2000, these dates will probably read 00 and cause untold and unknowable problems. We already have computer programs reporting that cans of baked beans have been on the shelf for 97 years because, when the life of a can of baked beans was added to today’s date, it went past 99.

Networking makes collecting and distributing information both easy and cheap. Given this digital abundance – a world where the cost of information halves and computing power doubles every 18 months and where the availability of information is ever increasing – what is stopping a faster uptake of digital technology? We see two major obstacles to this. The first is a lack of imagination. Look at the press today (1998); some 90 per cent of its reporting on the information revolution revolves around the Internet and the World Wide Web.

Knowing who our customers are will allow us to bypass traditional middle men and distribution channels; knowing what they want – potentially on an individual basis – will enable us to develop new products and market them effectively; knowing how they behave will allow us to link up to other organisations so that our joint offering is that much more persuasive. In other words, information about customers will be at the centre of those ecosystems of the future. This trend will be self-reinforcing.

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