This is the first Executive Update in a three-part series discussing the variety of ways in which organizations, particularly commercial firms, are leveraging virtual worlds to create and capture value. In this Update, I lay out the conceptual foundation for the discussion. In Parts II and III, I'll present a collection of mini-cases, concluding with a discussion of the challenges hidden inside these various business opportunities.

As social networking and Web 2.0 applications continue to enter the workplace and rise in importance, it is crucial to be aware that they bring new risks along with new opportunities. Although relatively few companies have as yet introduced strong codes for using these applications, the risks of unrestricted access are beginning to become apparent. This is a major growth area, so it is essential that risk issues are examined before practices become embedded in corporate culture and are difficult to change.

In February and March 2010, Cutter Consortium conducted a survey that asked 99 end-user organizations about their various data warehousing, BI, and other analytic efforts. One set of questions sought to determine corporate attitudes regarding the value of tracking and analyzing social media sites, such as Facebook, Twitter, LinkedIn, MySpace, Yelp!, and others, to assist with PR, marketing, and other corporate initiatives. My goal was to identify trends that you can use to gauge your own organization's efforts at monitoring and analyzing social media.

In this hour-long webinar, Cutter Consortium Senior Consultant David Coleman will answer this question and show you how some of the new Web 2.0 tools -- tools that are easy enough for a non-professional to use -- can support non-linear projects and help with better estimation. You'll also discover how project communities or networks offer a new way to run projects more successfully. Spend an hour with David Coleman and get some new ideas on how to run your projects more successfully.

Interact with Cutter's vast community of experts for insight into the best social networking strategies for your enterprise. To evaluate Cutter's research or discuss how Cutter's consultants can help you successfully create and implement your social networking strategy, call us a +1 781 648 8700 or e-mail us at sales@cutter.com