Web 2.0: The next generation of World Wide Web

I really think Web 2.0 is a very strong concept that helped in building the new architecture of World Wide Web. It has evolved new business models and strategies for various companies which really helped in boosting their businesses. Many companies evangelized this Web 2.0 concept into their businesses which resulted in reduction of man power and increase in cost cutting strategies.
Web 2.0 has shown its influence not only on the Dot-com companies but also on the common person, i.e. the Internet user. The Web 2.0 helped each user creating a unique identity. Today, people can create their own customized websites; share their opinion with the whole world. People share media like blogs, videos, mp3s with others over the Net. Many people earned money and fame doing this. Hence, we can say that Web 2.0 has created a revolution over the Internet.
There is an increase in the online shopping as people prefer to buy products online instead of going to the stores. Online trading companies like Amazon.com, e-bay.com share this data with other companies. This data has become a commodity to most of the companies. Now, the companies market products based on the interests of people. Thus, Web 2.0 became a trademark to most of the businesses. Paradoxically, Web 2.0 application does not focus on what the customer wants. But, actually maintains its focus on why the customer wants? Many Market Analysts think that this could be a beginning of another Dot-com bubble which previously burst in late 2001.
Because of Web 2.0, innovation and open source projects hit an all time high. More collaboration between people on the Web started to occur. This has helped in creating a more intelligent, participatory Web. Loads of data started to flow over the Internet.
Yet, Web 2.0 has its own limitations. The Web 2.0 applications are not that effective when there is less bandwidth in the Internet. They completely rely upon Broadband Internet.
All countries in the world don’t have Broadband Internet except for developed countries. Such countries really can’t enjoy the richness of Web 2.0. However, they can still access Web 2.0 websites which does not require much bandwidth to access like Gmail, blogs etc.
Therefore, I conclude this blog saying that Web 2.0 has influenced our day to day lives. Even though, there is no standard definition for Web 2.0, one should really understand the Web 2.0 concept clearly.