Web 2.0 is a program that gives people the ability to share information, and to communicate online. Cloud computing is a paradigm where information, technology, and software’s shared gets to be stored in the internet. Though the two appear the same they are different in that, cloud computing refers to the use of the computer for its services, while is a programming and business models.
The two are changing the economic business in more than one way. Today many companies opt to use either one of them or both, to enhance their businesses. Unlike data, security technology, they are easy to use and understand, and one can easily determine the benefit as compared to the risk and compliance activities. The two complement each other and also make operation easy to negotiate. Individuals get a chance to learn and connect to the company; this increases the transaction as the companies share available to the public about their products and services. When an individual goes online in search of a product, they also determine which companies gets to be associated with the product and it becomes easy to purchase the property.
Web 2.0 and cloud computing also helps companies to partner together and to support each other from each other. For instance banks support many companies and institution, and at the same time they also benefit. With the use of credit cards, one can purchase almost anything the companies and institutions trust that the bank will transfer the money a soon as they get it and thus enabling the consumer to purchase the goods. It is a win- win for the parties involved.
Purchasing of goods has been made so easy one can also use a mobile phone, as long as it is connected to purchase goods and have them delivered on the door step. They also encourage globalization, the whole world coming together and sharing their opinions and views on different issues. Though there are those who have not fully embraced the idea, this technology is here to stay.