Thought provoking - "Time Magazine". Welcome to the attention economy, in which the new scarcest resource isn't ideas or talent, but attention itself. This groundbreaking book argues that today's businesses are headed for disaster - unless they overcome the dangerously high attention deficits that threaten to cripple today's workplace. Learn to manage this critical yet finite resource, or fail! "A worthy message" - "Publishers Weekly". The author Thomas H. Davenport is the Director of the Accenture Institute for Strategic Change and author of "Process Innovation and Working Knowledge", Harvard Business School Press. John C. Beck is an Associate Partner and Senior Research Fellow at the Accenture Institute for Strategic Change.
If you like to keep on top of what's going on in the world but find it difficult to get through more than a section or two of the Sunday New York Times, take heart. Were you to actually plow through the whole thing, even just once, you'd be taking in more factual information than was gathered in all the written material available to a reader in the 15th century. And that's just a Sunday paper; what about all the e-mail, voice mail, meetings, Web pages (2 billion or so of them), and publications (more than 60,000 new books and 18,000 magazines published annually in the U.S. alone) vying for your attention? According to Thomas H. Davenport and John C. Beck, we live in an age of information overload, where attention has become the most valuable business currency. Welcome to The Attention Economy.
If yesterday was the age of information, today is the age of trying to attract or employ people's attention. Indeed, leaders and managers in the business world face this two-fold problem daily, constantly seeking the attention of their customers and employees while managing their own limited supply. Declaring that "understanding and managing attention is now the single most important determinant of business success," the authors examine what attention is, how it can be measured, how it's being technologically constructed and protected, and where and how attention is being most effectively exploited.
Predictably, nowhere are these economics more important than in the realm of e-commerce. In the chapter entitled "Eyeballs and Cyber Malls," the authors discuss the strategies needed to gain and maintain attention "stickiness." The book contains numerous suggestions on how leaders can manage their own attention and that of their employees more effectively (and how to avoid and treat info-stress), but always with an eye on the ultimate goal: affecting the type and amount of attention your customers give you. Already, more money is often spent on attracting attention to a product than spent on the product itself (we're reminded of The Blair Witch Project, which cost a mere $350,000 to make and $11 million to market). And as our information environment gets increasingly saturated, holding a person's attention becomes an ever more difficult proposition; as the authors suggest, actually paying for someone to receive your information is a realistic prospect in the not-too-distant future. Indeed, the book's final chapter is devoted to what the authors predict will affect attention in the future, and how attention can and will be acquired, monitored, and distributed.
The Attention Economy is peppered with anecdotal pull-outs and "overheard" comments; though intriguing in as random factoids and zippy, little quotes, this sideline information doesn't always tie in with the authors' points and often seems distracting. The book is well written, though, and the authors, both of whom work at the Accenture Institute for Strategic Change, take an informed and well-balanced look at what is perhaps our society's most priceless, ephemeral commodity. --S. Ketchum
Customer Reviews:
Avg. Customer Rating: 4.5 / 5.0
21st century currency - attention:
Abundance of information leads to scarcity of attention, the management of which is now the single most important determinant of business success - welcome to Attention Economy. After decades of focus on distribution and ubiquity of access to our modern information superhighways, a new focus is beginning to emerge: filters, agents, and personalization. "Attention Economy" is a great conversation starter, and a book that will force you to re-think many implicit assumptions - what is attention, how do we... more info
The Attention Asset: Giving, Getting, Growing, and Keeping, It:
This is a fine book! It is clear and creative writing on a novel concept and promising area - The Attention Economy. On page 20 the book defines attention as a "focused mental engagement on a particular item of information. Items come into our awareness, we attend to a particular item, and then we decide whether to act" (original italics). From this definition it follows that The Attention Economy is a system for managing the attention asset. And why manage attention? Because attention is an economic... more info
Reads like a magazine:
The book reads like a magazine with a lot of anecdotes, which is a direct credit to its authors who are trying to make a textbook readable and capture the attention of mgmt audience with the baby face on its cover. Perhaps this has given the impression that it's not a serious book. But it is. As we get deluged with more information each day, each piece of information is fighting for our attention. An example would be the recent reverse trend by companies to have precise "smartbomb" placement of ads... more info
The fundamentals for measuring engagement:
The authors of this book see every business engine fueled by attention, defined as the focused mental engagement on a particular item of information. As the authors point out, during the industrial revolution, manpower drove the economy; in the information age, knowledge was power, in this business era, attention is the rare resource that powers companies. Companies need to recognize the value of attention, and lean how to direct it and manage it. The authors understand the broad spectrum of attention and... more info
