On Wednesday, February 23, 2011, a category 5 hurricane named "Panda" swept through the Gulf of Google devastating businesses large and small alike. The hurricane was reportedly named after one of Google's engineers.
So what was the reason for this catastrophic and "game-changing" update? Well, according to Google:
"This update is designed to reduce rankings for low-quality sites - sites which are low-value, copy content from other websites or sites that are just not very useful. At the same time, it will provide better rankings for high-quality sites - sites with original content and information such as research, in-depth reports, thoughtful analysis and so on. It is important for high-quality sites to be rewarded, and that's exactly what this change does." (Source: Google Blog)
So make sure you use original content on your website regarding your services and products and dont copy and paste from other sites as you may be penialised.
Remember CONTENT IS KING.