Easily measurable KPIs will help decision makers to justify investments in enterprise social media applications, according to research firm Frost & Sullivan.
Businesses are often reluctant to implement enterprise social media and Web 2.0 applications due to the lack of successful deployment cases. Most social media platforms have long ROI periods, which deter enterprises that are only seeking short-term benefits.
"A KPI that can be easily measured is the increase in intercompany communication and knowledge sharing, which is a clear indicator of the breakdown of information silos in a company," said Frost & Sullivan research analyst Jessie Yu.
A new Frost & Sullivan report, Enterprise Social Media and Web 2.0 Market 2010, finds that the Asia Pacific market experienced 20 percent growth in 2010, generating US$28.6 million, and is expected to touch US$126 million in 2017.
Service providers will also be pleased by the growing need of mobile workers to readily access information through an online knowledge portal. Technology vendors have been bundling collaboration solutions with their other core communication offerings to provide an integrated experience to consumers. This trend has gained pace with vendors trying to break into the collaboration space by tapping their existing customer base.
"With many enterprises having a geographically dispersed employee base, there is a need for knowledge/content management solutions to be accessible via the Internet," notes Yu. "This will bolster the adoption of enterprise social media and Web 2.0 application among enterprises across geographies."
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