Why Web 2.0 will find Financial modeling next
A recent piece in the National Journal by Tankersley and Hirsh, “Neo-Voodoo Economics”, encouraging American’s to think more boldly about new growth and markets, rather than simplistic rethreads, prompted me to think about a few new opportunities in this space. A plethora of industries have been radically transformed and reconfigured by the emergence of new business models made possible by web 2.0. Netizens (a term commonly used to describe people actively involved in online communities) have rocked the foundations, processes and relationships (and wallets) upon which they were built over the past 25 years – learning, working, media and everything in between. Inroads have begun into even the most sacred of sectors – such as religion, politics, property and professional services.
However, often these seismic transformations are as subtle, as they are gradual. A compelling case could be mounted that the financial modeling industry – part of the 700,000 firms in the $1 trillion+ professional services industry – may be next to be transformed by Web 2.0.
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