First this is what Google Search team says about their decision.
Speeding up websites is important — not just to site owners, but to all Internet users. Faster sites create happy users and we've seen in our internal studies that when a site responds slowly, visitors spend less time there. But faster sites don't just improve user experience; recent data shows that improving site speed also reduces operating costs. Like us, our users place a lot of value in speed — that's why we've decided to take site speed into account in our search rankings. We use a variety of sources to determine the speed of a site relative to other sites.
So that means we need to find out ways to speed up our website or blog. Here is my brain storming.
1. Choose/Switch Better web hosting ( Reliable and Faster and cheap web hosting might not going to work any more )
2. Choose/switch faster simple templates for the websites / blog. No more bulky images or flashy content but optimized images. Need to get the HTML coding optimized as well.
3. Use Tools effectively to measure what is really happening with the web site and do the necessary changes.
Some of the Web speed tools - Page Speed, YSlow, WebPagetest, Webmaster Tools
Also you can us Google Analytics asynchronous tracking.
Like I said earlier it is a better move from Google as it will improve the quality of the billions of websites and will come to an standard. Would like to see you thoughts as well.
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