Technological Forecasting

A technological forecast is a prediction of the future characteristics of useful machines, techniques or procedures. In a time of rapid technological change, your business plans must be based on a sound forecast of future technology. Proven analytical methods are available to help you prepare rational forecasts of technology. The forecasts prepared by these methods can be readily explained to others and are more acceptable to non-technological managers.

A technological forecast can help you:

• determine whether your current technical approach is reaching some fundamental barrier to progress, requiring the use of a successor approach
• estimate the likely performance of your competitors' designs at the time you plan to introduce a new design
• estimate the future performance of components which will be available from your suppliers at the time you plan to introduce a new design
• anticipate technological changes which will allow you to gain a competitive advantage by altering your firm's organization or distribution methods

Call on me for training for your staff in analytical methods of technological forecasting, and for assistance in preparing technological forecasts.