Complementing a series on various Internet-related technologies, this paper investigates the value of the search technologies used to traverse the Internet. Though it is only twenty years old, online search technology has fundamentally transformed our behavior and how we get things done at home, at work, and especially more and more on the road. It enables individuals and companies all throughout the globe. Without search technology, a world
seems unthinkable—so much so that we take for granted and undervalue its importance. Until now, efforts to show the value of search technologies have mostly depended on statistics including the billions of dollars advertisers pay to show on search pages, the trillions of online searches conducted annually worldwide, or the income generated by those offering search
capabilities and search marketing services. These policies, however, fall short in completely capturing the continuous generation of economic value made possible by the click of a search button for, say, increased productivity, more market transparency, the finding of fresh information, and the capacity to connect with the appropriate businesses and people. Usually,
The Internet is credited for such advantages
Furthermore vital now are World Wide Web. Though barely two decades old, search technology shortened just to "search" in the IT sector and referred to as such in the rest of this report is a pillar of the Internet economy.one The figures clearly show its usefulness. While some trillion searches are done worldwide year, an average Internet user in the United States searched some 1,500 times in 2010.There have been few studies trying to evaluate the worth of all this work. Different studies indicate the great value of money advertisers pay to show
clearly on search sites.Another indication are the earnings of those offering search services—portals, search engines, and search platforms. Still, none of any research has fully evaluated search's advantages and worth. This paper seeks to correct that by demonstrating how search generates value and who benefits. Wherever feasible, it estimates the value
produced. Among our important discoveries. Wanting to comprehend by MGI, including a study of the Internet's contribution to the global economy1 and the value Big Data—that is, the vast pools of information on which most modern economic activity depends—creates for organizations and the economy, we extend our research net wide.twoThe authors of this paper thank Martin Baily, a senior adviser to McKinsey and a senior fellow at the Brookings Institution; Erik Brynjollfson, Schussel Family Professor at the MIT Sloan School of
Management and director of the
MIT Center for Digital Business; and Hal Varian, chief economist at Google and emeritus professor in the Haas School of Business, the University of California at Berkeley. Leaders in McKinsey's technology, media, and telecom practices—Tarek Elmasry, Adam Bird, Jürgen Meffert, and Geoff Sands—have given us much-needed essential advice and support.The research focuses on eleven constituencies—for example, marketers and merchants in business, and health care and education in public services—because search technologies
impact enterprises, people, and public service organizations. It also examines five countries to demonstrate how location and economic situation affect the adoption of search technology: Most of the research up to now has focused on the US market. At last, it points up nine wayssix more than are generally known—in which search technologies add value.One: Wherever at all feasible, the value produced is measured.The work is difficult as a
feature of search technology is that it is always under development.But the results of this study imply that the value is already significant—at the time of the study, approximately $780 billion globally, with $540 billion of that amount directly supporting GDP. Furthermore important is the fact that these numbers—as well as those throughout the report—are based on analysis conducted at the time of research—early 2011—using generally 2009 and 2010
Still we consider the projection
to be conservative. Still, that is 25 times the earnings made by the search business by itself. These are Gross numbers. We have not attempted expense deduction. We also ignore disturbances in other value chains brought on by privacy concerns or search technology. Although these subjects are relevant, this article does not center on them. Furthermore, considering the speed at which the search environment evolves, we are aware that the
computed throughout the research process will already have been exceeded by the publication time. Still, to the best of our knowledge, the paper is the most thorough evaluation of the advantages and worth of search technology done thus far. This paper marks only the beginning of somewhat recent efforts on the influence of search on the economy rather than the last one. Though many further developments are planned, the technology itself is still
somewhat young in its evolution. Furthermore, the uses and applications of search technology are still developing; so, the effects on business, the economy, and society are yet rather unknown. Based on research by McKinsey's Technology, Media, and Telecom Practice, academic and public sources, research done with Google, and McKinsey Global Institute (MGI) to better grasp the impact of technology on business and the economy, this
Conclusion
independently authored McKinsey report is Other publications on the influence of the Internet have been released.attitude toward advertising. In some cases, the concept of attitude toward advertising is too broad. There may be attitudinal differences toward advertising in general among consumers depending on the type of advertising. In result, some consumer perceptions of attitude toward advertising are more optimistic when compared to other
in different regions (Dianoux et al., 2014). Although there is a growing number of contemporary media platforms, traditional advertising remains the most dominant form to which consumers are exposed. Consumers tend to have a mental image of traditional media platforms. Flores, Chen, and Ross (2014) determined that television advertising persuades changes in consumers’ attitudes toward advertising when compared with radio advertising.
Typically, high-involvement products are significantly more appealing than low-involvement products. Flores et al. (2014) determined products are more appealing to consumers when marketers focus on the theme. Consumer satisfaction has an important role in the relationships with perceived value, usefulness, and confirmation of continuance intention. Hsiao and Chang (2014) examined the drivers of loyalty in marketing campaigns. Hsiao and
Chang (2014) determined that perceived value, usefulness, and satisfaction directly influence continuance intention in marketers. Celebi (2015) conducted research to learn about consumer motivations toward social media, their attitudes, and behaviors toward Internet advertising. Facebook groups are used more by individuals who enjoy the quality of life, peer influence and structure time. Celebi (2015) determined peer influence and structure time
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