Internet And The Big-Data Why The Internet Is Cons

Internet and the big-dataWhy the Internet is considered a ‘game changing’ technologyInternet technology has completely altered the rule of competition. Internet technology has considerably lowered entry barrier in new industries. Businesses do not require much capital investment to enter some businesses such as online stores. The internet has increased the bargaining power of customers. Customers are well informed about products and what is available in substitute; this makes it tricky for businesses in differentiation and pricing. At the same time customers are better informed and the internet has lowered the cost of searching new available products.Internet has also altered communication channels by adding a new dimension to connectivity and dispersion of information. Employees can be in constant touch through email, instant messaging, office intranet, etc. This facilitates collaboration and innovation among employees of organization. Internet technologies have made geographical boundaries no longer relevant in communications. In business transitions the internet has facilitated online business or e-commerce. This includes Internet banking and payment gateways, etc. are part of normal supply chain transaction. This has had a major impact on the way the business is conducted CITATION Man14 \l 7177 (Castells, 2014).The Internet changed the way business is