This paper describes the crucial role of Multimedia in our lives, one of the most important new technologies that we use daily. This paper explains the role and the effect of using Multimedia in education, business and learning. Consequently, this paper is evaluated and developed by using articles, online journals and primary data collection tools for gathering valuable information about the importance of Multimedia. In modern world, technological advancement leads to discover the powerful application of Multimedia. Internet and Social media have significant contribution to improve Multimedia. As the unstructured data in form of images and pictures are increasing at a rapid speed, Multimedia is helpful to convert the data into information. This paper is going to help people to expand their knowledge and information about Multimedia and its strong influences on business and education. The paper shows how technological innovation can be used by external stakeholders to direct and promote innovation in business.