When I worked at Yahoo! ten years ago during the age of Terry Semel, Yahoo! was being turned into a media company. I always saw this strategic move as a mistake - the strategic error that allowed Google to usurp Yahoo!'s position in search and elsewhere. The Internet is first and foremost about data. That means companies should look at the Internet as a sales/information/marketing channel with unique qualities that other channels don't have. Foremost among those qualities is 'big data'. The Internet is a treasure trove of data that helps a sophisticated company tweak its offering to customers and sell more product, whether that be books, rental properties, advertisements, videos or what have you while increasing customer engagement and satisfaction.
For the Internet-only operator, this pr...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.