Technology Through Tech Mining For Market Dominance
Innovation would mean technological change. The technology change results in practical insinuation or commercialization, it does not mean just generation of strategies. The importance of technological innovation in today's competitive economy is very apparent, as today the worldwide economy depends on technology not to mention technological innovation to an extraordinary degree.
Technological innovation plays important place in the economical growth of any country. Us, Asia, and other European countries are developed only due to there tech progress. In recent years, Singapore, India, China and many other states are advancing dramatically due to technological innovations and progress. Big technology companies are a significant and growing component of the particular economy. The competitive of these companies depends on technological innovations. Technology improves standard of living. Developments in medical and pharmaceutical technological innovations have delivered extensive returns in health and life span.
Technology involves tech mining. Tech mining includes understanding typically the technological innovation processes to track them more effectively and get up to date about latest happenings and make valuable business selections about R&D and subsequent implementation and adoption selections.
Innovation is defined as the process by which technological ideas are developed, developed and transformed into new business products, process and also services that are used to make a profit and establish marketplace advantages. A better understanding of the innovation process is essential to figure out empirical measures deriving from innovation activities to generate actionable medical intelligence.
Tech mining is done through data or advice extraction from multiple data sources, compilation and scrutinizing the results and represents key findings in actionable vision representation for easy understanding to what is happening now plus predicting the future technologies.
Various types of technology analysis that may be aided by tech mining is as follows:
(A) Technological innovation Monitoring (technology watch) - cataloguing, characterizing, identifying as well as interpreting technology development activities
(B) Competitive Technological Intellect (CTI) -exploring out "Who is doing what? "
(C) Technology Forecasting-anticipating possible future development paths for precise technology domains
(D) Technology Road mapping - administering evolutionary steps in related technologies and, sometimes, supplement families, technology diversification and technology tree
(E) Technologies Assessment - anticipating the possible unintended, direct, indirect, and delayed consequences of particular technological changes
(F) Technology Foresight - strategic planning (especially national) through emphasis on technology roles and priorities
(G) Technology Technique Management - getting people involved to make decisions with regards to technology
(H) Science and Technology Indicators - occasion series that track advances in national (or other) technological capabilities
Reasons to Do Tech Mining
Forecast possible development paths for emerging technologies - identify new services, research or service opportunity
Identify competitors, or collaborators, at the "fuzzy front end" of new product production - keep tract of your competitor's activity for current market dominance.
Identify potential customers for your intellectual property ("IP") - new licensing, collaboration, acquisition and merger opportunities.
Explore additional application arenas for the outputs of your R&D : identify how to develop new products and services from your pre-existing business processes, without inventing more.
Gauge market prospects for prospective technology-based products and services
Be a wiser consumer of others' science and technology
Manage the risks of technologies development and implementation based on better information.
