Technology Forecasting and Alternatives to Forecasting

Developing a business for the maximisation of profit is the goal of companies today. They can only achieve an expansion of their business through technological forecasting by considering what is to be expected in the long run. This course will introduce you to the types of planning practised by these companies, along with alternatives to forecasting. Companies use operational planning, tactical planning and strategic planning to prosper. Preferring to be as efficient as possible today, companies care less about long-term changes.

As you progress through the course, you will be taught that, instead of opting for technological forecasting, companies use alternatives that are equivalent to studies of the future. Companies study the future not only for forecasting but also for many other reasons, including technology monitoring. In short, ‘technology monitoring’ consists of analysing relevant information and data about the company. From technology monitoring, they move to technology intelligence and technology roadmapping. You will also be taught that companies resort to technology assessment, which is the study and evaluation of new technologies’ contribution to the formation of public and political opinion on societal aspects of science and technology. Another complementary study is the technology readiness level for estimating technologies’ maturity during the acquisition phase. In this course, you will learn about other parallel studies.

By the end of the course, you will have some insight into technological forecasting and the practice of technological forecasting for strategic decision-making. Technological forecasting attempts to predict the future characteristics of useful specialised machines, procedures or techniques. This course will be of great use to leaders and managers of micro, small and medium enterprises who might resort to complementary studies instead of complete technological forecasting. Students specialising in management will find the courses particularly valuable. Start this course today to gain insight into forecasting and alternatives to forecasting.