Socialnomics – Fad or Greenbacks

A discussion is raging on the net on whether social media tools are a fad or indeed they make cultural, social and therefore - business sense.

Pundits are crunching numbers to punt on whether social networking tools have the ability to modify user behavior to the extent that they embed themselves into the daily lives of users. Neworking tool development efforts are making every effort to cash in on the pervasiveness of networking technologies through mobile devices.

Currently these tools are indeed able to modify behaviors of their users and hook their creativity to constantly create content thereby converting implicit knowledge, personal experiences and reflections into blogs, tweets and “states of mind”. If this modified behavior is channelized, it could unleash a huge potential for organizations which just need to create opportunities for such content creation and more or less they should have answered the need to capture and publish implicit knowledge and best practices critical for ongoing learning and change.

This “live” informal sharing becomes critical for businesses that thrive on significant user participation for example media companies, retail chains (say during a nationwide sale), Insurance companies etc. All that these organizations need to do is to track intimate sharing of preferences and behaviors of customers. This immense mountain of discrete pieces of information could be synthesized into cohesive interpretable behavior patterns and personal needs – a dynamite for an insurance sales agent who wants to guess the risk profile of a potential buyer.

Let the debate continue…maybe this is what the knowledge economics is all about...

To find some interesting statistics on socialnomics watch this clip on youtube http://www.youtube.com/watch?v=sIFYPQjYhv8

Hello world

Here’s yet another blogger making his debut! More content to plod through, more opinions, positions and “valuable” (pretty presumptuous!!) insights.
So keep watching this space during the coming days and weeks. We will discuss “shoes–and ships–and sealing-wax–Of cabbages–and kings–And why the sea is boiling hot–And whether pigs have wings.”