Web 2.0 is about harnessing the potential of the Internet in a more collaborative and peer-to-peer manner with emphasis on social interaction.

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October 29, 2007

RIA and Online Retail (1)

RIA  is one of the buzzwords driving the Web 2.0 phenomenon. Rich user interfaces, along with the advanced functionality found in web applications, have blurred the line between what were considered desktop applications and the Web. The success of Gmail, Google Docs, Zoho and numerous other fledgling web applications prove that the Rich Internet Application as a computing  paradigm is here to stay.

With regard to the enterprise, the rapid implementation of SOA at the back end should have been a strong driver for the adoption of RIAs since technologies such as Ajax and Flex are natural complements for services. But this has not been the case. Enterprise uptake of rich interfaces has not been as quick as evident on the consumer web.


While there are many reasons for the slow adoption of RIA, the primary one remains the disconnect between functionality and usability in enterprise applications. A robust back end powered by a functional front end- this has been the mantra for enterprise application developers for a long time. Hence, web applications have been characterized by poor layouts and outdated interface mechanisms using JSPs or ASPs. This is not just true of applications contained within the enterprise, but also of customer facing ones, such as personal banking sites.

However, online retail has generally been an exception to this state of affairs. Success and failure in this competitive domain have not been exclusively defined by the back end architectures (though they are very important.) Rather, online retail sites need to supplement them with user interfaces which not only enable a customer to search and buy from a catalog of goods, but also allows him to make wish lists, track prices and look at alternatives. Online retailers also depend a lot on product discovery and recommendation systems, along with user generated reviews, to drive a significant portion of their sales. Hence, an interface which brings these systems to the fore of the user experience is a vital cog of their business models.                   

It is no surprise that online retailers like Amazon and Dell have been experimenting with rich interface mechanisms which allow them to differentiate themselves  from the competition and provide enhanced usability to their customers while retaining and expanding their existing user bases. Product customization, experiential demos (such as a 360 degree Flash-based view of a product) and virtual 'trial rooms' are some of the concepts becoming increasingly common on retail sites.

In the next post, we will take a look at the RIA paradigms seen in the online retail sector today, the potential influence of newer technologies such as Adobe AIR and Microsoft Silverlight, and examples of some significant players in this space.

October 24, 2007

Web 2.0 adoption in Financial services – Financial services Web 2.0 Metrix (Part 2)

The key players in the Financial services space who figure prominently in the Financial services Web 2.0 Metrix are given below:
1.        Wells Fargo:         Extensive RSS feeds, Videos, Blogs, Forums, End user content upload, Also has Stagecoach           Island (need I say more J)
2.       USAA:           RSS feeds, Videos, Blogs, Forums
3.       HSBC:           Good set of RIA features, Podcasts, Videos
4.       American Express:              RIA features, Podcasts, RSS Feeds, Blogs, End user content upload, Has an interesting initiative called American Express Labs (http://labs.americanexpress.com), where users can play around with new and yet to be launched features from American Express.
5.        Fidelity:                                 RSS feeds, Podcasts, Videos, Blogs, Forums, End user content upload. Has the initiative called Fidelity Labs (http://www.fidelitylabs.com/), which has some cool widgets as well           as an investor centre locator mashup
6.       PNC Bank: RIA features, Podcasts

 

October 22, 2007

Web 2.0 adoption in Financial services – Financial services Web 2.0 Metrix (Part 1)

Over the next few posts, I will be sharing some of the results of the research and benchmarking study done on over 160 global financial service providers on their Web 2.0 adoption rates. Infosys Financial services Web 2.0 Metrix is an approach aimed to benchmark the Web 2.0 initiatives across global financial services enterprises. The objective is to benchmark the Web 2.0 initiatives across global financial services enterprises and arrive at recommendations, best practices as well as roadmap for future Web 2.0 initiatives. The Metrix comprise of over 30 parameters, which capture various Web 2.0 features including RIA (Rich Internet Applications), Data Feeds such as RSS/ATOM, Podcasts, Tags, Mashups, Rich product visualizations, Blogs, Wikis, dynamic and contextual help etc.
First let me give an overview of the research methodology, the data set, analysis parameters etc. The methodology adopted is Website analysis. Each financial service provider website was analysed in detail for the presence/absence or degree of sophistication of over 30 Web 2.0 features and parameters and they were in turn assigned scores. The sample set consists of financial service providers spread across the world. Let us first look at some statistics as part of this study. Total sample size: 160. The sample break-up of financial service providers based on country of origin looks like this: USA(67), France(9), Germany(12), Japan(11), Netherlands(5), UK(11), Australia(5), Canada(5), Italy (6), Brazil(4), China(5), Others(20).
The adoption of Web 2.0 features and functionalities among financial service providers has so far been low when compared to Retail.  The players financial service providers who figure high on the Web 2.0 Metrix have adopted a number of Web 2.0 features such as:
·         Data Feeds mechanisms such as RSS/Atom feeds
·         Podcasts and Videocasts
·         Branch/ATM locator Mashups
In the forthcoming posts, I shall elaborate more on the results from the Financial services Web 2.0 Metrix as well as share the results from top adopters in this segment.

 

October 18, 2007

Web 2.0 adoption in retail: Retail Web 2.0 Metrix (4)

This is the next blog in the Retail Web 2.0 Metrix series. Here I will share some results and statistics from the Web 2.0 Metrix on the Web 2.0 features adoption pattern in Retailers. The adoption of Web 2.0, principles, features and functionalities are currently restricted to a limited set of retailers within the retail population. However the good news is that the adoption rates are improving. I am categorizing below, the adoption rate of Web 2.0 features and functionalities.

Web 2.0 features/functionalities adopted most by retailers
·         RIA based user interfaces
·         Static Mashups (data embedded on third party maps)
·         Qualitative as well as quantitative product reviews
Web 2.0 features/functionalities finding limited adoption by retailers
·         Blogs
·         Discussion Forums
·         Data Feeds (RSS, Atom etc.)
·         Live Agent Chat
·         Dynamic Mashups (live data feeds)
·         Podcasts
·         Videocasts
·         End user product customisations
Web 2.0 features/functionalities adopted least by retailers
·         Wikis
·         Product Tagging
·         Bookmarks sharing
·         Synchronous chat
·         Collaborative product customizations
·         Comparison shopping across multiple retailers
·         End user contributed content
·         VoIP based customer support
In the next blog, I will write more on specific retailers who have adopted some of the interesting aspects of Web 2.0.

 

October 01, 2007

Web 2.0 adoption in retail: Retail Web 2.0 Metrix (3)

The Retail Web 2.0 Metrix also captured the Web 2.0 adoption pattern across various retail segments. The various retail segments which were analysed include Apparel & Footwear, Catalog & Mail Order, Consumer Electronics & Entertainment, Department & Discount, Drug Stores, Health & Beauty, Supermarkets & Grocery, Home Improvement and Specialty. The following is the Web 2.0 adoption results for these retail segments. The retail segments below are listed in the descending order of Web 2.0 adoption.
1.       Consumer Electronics & Entertainment
2.       Apparel & Footwear
3.       Specialty
4.       Catalog & Mail Order
5.       Home Improvement
6.       Department & Discount
7.       Drug Stores, Health & Beauty
8.      Supermarkets & Grocery

 The spider chart below captures the above results. We find some trends in terms of the greater extent of adoption of Web 2.0 in certain retail segments compared to others.

Web 2.0 Adoption in Retail segments.png