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The Complete Guide to Business Analytics (Collection) by Thomas H. Davenport

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22Technology Forecasting

Short Description

Technology forecasting aims to provide information about the direction and rate of technology changes. It uses logical processes to generate explicit information to help industry and government anticipate practical, ecological, political, and social consequences of developments in technology. In government, this information is used to inform policy. In industry, the information can be used to inform strategic improvements to, or replacements of, products and processes and predict changes in markets.

There are four elements in a technology forecast:1

  • A time horizon (either the time of the forecast or the estimation of time when the forecast should be realized)
  • A specific technology
  • Some parameters to ...

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