Web 2.0 has been a buzz word around the office for a while.‘ What is Web 2.0; Design Patterns and Business Models for the next generation of software’ authored by Tim O’Reilly is an extremely helpful article, offering real clarity to the concept.

Web 2.0 is about web based software rather than desktop software applications. Sites are used as components of tools that people build – just as libraries or components are used in software. The web is no longer about publishing it’s about participation. Internet applications encourage social networking and that grow stronger from user participation. The user adds and enhances the data which inturn adds value. [Amazon, Flickr]

Web based services can tap into the whole web and not just focus on the top websites, by reaching deep into the long tail, they can serve up individual and niche content experiences.