Yeah academic studies and surveys have a long and consistent record of failing to find any befit from IT in general:
- AI-generated answer (with direct quotes and cites)
1. Ng, Pan & Wilson (1998) Ã" Most businesses saw no revenue benefit ÃoeA majority (56%) indicated that their presence on the World Wide Web did not produce any noticeable change in their turnoverà The study also found that approximately 31% reported increased turnover, while 13% could not identify an effect. Citation: Ng, H.-I., Pan, Y. J., & Wilson, T. D. (1998). Business Use of the World Wide Web: A Report on Further Investigations. International Journal of Information Management, 18(5), 291Ã"314, p. 310. Information Research Full paper (PDF)
2. Hitt & Brynjolfsson (1996) Ã" IT investments did not necessarily increase profitability ÃoeHowever, we do not find evidence that these benefits have resulted in supranormal business profitability.Ã The researchers examined IT investments at 370 large firms. They found productivity gains and benefits to consumers, but no evidence of above-normal profits attributable to IT investments. Citation: Hitt, L. M., & Brynjolfsson, E. (1996). Productivity, Business Profitability, and Consumer Surplus: Three Different Measures of Information Technology Value. MIS Quarterly, 20(2), 121Ã"142. Iecon Paper and abstract
3. Subramani & Walden (2001) Ã" Internet initiatives increased stock market valuations ÃoeThe results suggest that e-commerce initiatives do indeed lead to significant positive CARs for firms' shareholders.Ã Studying 251 e-commerce announcements from late 1998, the researchers found positive abnormal stock returns ranging from 4.9% to 23.4% across different subsamples. However, these were stock market gains reflecting expectations of future profitability, not demonstrated increases in operating profits. Citation: Subramani, M., & Walden, E. (2001). The Impact of E-Commerce Announcements on the Market Value of Firms. Information Systems Research, 12(2), 135Ã"154. PubsOnLine Full paper (PDF)
Bottom line The findings illustrate three different aspects of the late-1990s Internet economy:
- 1996: IT investments improved productivity without demonstrably generating above-normal corporate profits.
- 1998: Most surveyed businesses reported no measurable increase in revenue from their websites.
- 1998 data, published 2001: Investors nevertheless rewarded companies announcing Internet initiatives with substantial increases in stock market valuation.
The important limitation: None of these studies established whether the average company earned a positive or negative net return on adopting the Internet. The 1998 survey comes closest to measuring actual business results specifically attributable to Internet adoption.
- end of AI
Studies in the social sciences invariably prove what is popular. Watch, you'll see, and they consistently lean luddite. They resent new capabilities changing the world more than their 'insights' ever do. New capabilities are what change the world, but why should technologists have all the power to determine the future? (As if innovation, innovation, and history worked that way at all - particularly since inventors (individuals or nations) usually have a slim window of exclusivity.