Mixed Feelings
It would be interesting to see some actual metrics from corporate web reporting tools. Even if users attempt to be honest about their usage, I doubt that they are correct in their reporting. Watercooler chats may be a time "taker", but I'm hard pressed to say it is a time "waster". Anecdotal evidence suggests that if it weren't for a watercooler chat, we might not have GPS at our disposal. Social Media can have big value to an organization, Imagine being able to leverage knowledge from across your corporate landscape. As IT Professionals, we tend to be a bit arrogant and dismissive of our "mere mortal" users; the truth is, sometimes they know stuff that can help us as well as the user population at large.
