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