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Social media can boost output by US$1.3b
By Ding Yining |
November 6, 2012, Tuesday
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Online Edition
Online Edition
As much as US$1.3 trillion of annual value can be created in four industry sectors globally if social technologies are fully utilized, McKinsey & Company said in a report today.
The four sectors -- consumer goods, retail financial services, professional services and advanced manufacturing -- are expected to benefit from social technologies in terms of product development and operations, marketing and sales-related activities, as well as improvements in business support activities.
Globally, about 70 percent of the 4,200 companies interviewed by McKinsey Global Institute said they're using social technologies but the deeper value of social technologies are yet to be unveiled.
McKinsey & Company defined social technologies as products and services enabling social interactions in the digital realm.
The four sectors -- consumer goods, retail financial services, professional services and advanced manufacturing -- are expected to benefit from social technologies in terms of product development and operations, marketing and sales-related activities, as well as improvements in business support activities.
Globally, about 70 percent of the 4,200 companies interviewed by McKinsey Global Institute said they're using social technologies but the deeper value of social technologies are yet to be unveiled.
McKinsey & Company defined social technologies as products and services enabling social interactions in the digital realm.
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