Technology Intelligence (TI) is an activity that enables companies to identify the technological opportunities and threats that could affect the future growth and survival of their business. It aims to capture and disseminate the technological information needed for strategic planning and decision making. As technology life cycles shorten and business become more globalized having effective TI capabilities is becoming increasingly important.[1]
In the United States, Project Socrates identified the exploitation of technology as the most effective foundation for decision making for the complete set of functions within the private and public sectors that determine competitiveness.[2]
The Centre for Technology Management has defined 'technology intelligence' as "the capture and delivery of technological information as part of the process whereby an organisation develops an awareness of technological threats and opportunities."[3]
The Internet has contributed to the growth of data sources for technology intelligence and this is very important for the advancement of technology intelligence.[4] Technology intelligence gives organizations the ability to be aware of technology threats and opportunities.[3] It is important for companies and businesses to be able to identify emerging technologies in form of opportunities and threats and how this can affect their business. In the past two decades, there has been massive growth in the amount of products and services that technology has produced and this is because it is a lot easier and cheaper to acquire and store data from different sources that can be analyzed and used in different industries.[5] The interest started in 1994 and the technology intelligence process has evolved since then.[6] This process can be used to improve and further the growth of a business because the need to shorten the time lag between data acquisition and decision making is spurring innovations in business intelligence technologies.[5] There are several tools called text mining and tech-pioneer that make the technology intelligence process actionable and effective. This process consists of 4 steps: organizing the competitive intelligence effort, collecting the information, analyzing the information and disseminating the results.[7] Although this process is very beneficial to organizations, there are some challenges such as communication and interpreting the results the process provides.[8]
^Technology intelligence: Identifying threats and opportunities from new technologies Archived 2008-04-03 at the Wayback Machine Mortara, L. and Kerr, C. and Phaal, R. and Probert, D., University of Cambridge (2007)
^ abA conceptual model for technology intelligence. International Journal of Technology Intelligence and Planning Volume 2, Number 1, pp. 73-93. ISSN 1740-2832, Kerr, C. I. V.; Mortara, L.; Phaal, R. & Probert, D. R. (2006)
^Veugelers, Mark; Bury, Jo; Viaene, Stijn (February 2010). "Linking technology intelligence to open innovation". Technological Forecasting and Social Change. 77 (2): 335–343. doi:10.1016/j.techfore.2009.09.003.
^ abChaudhuri, Surajit; Dayal, Umeshwar; Narasayya, Vivek (1 August 2011). "An overview of business intelligence technology". Communications of the ACM. 54 (8): 88. doi:10.1145/1978542.1978562.
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