Technological Roadmaps and Forecasting

In their endeavour for financial success, companies draw on technological roadmapping and forecasting. Since such concepts call for a map of contradictions, you will first be introduced to them before returning to the fundamental theme of roadmapping and forecasting. From problem maps to roadmaps, you may observe various managerial system inconsistencies, the assessment for limiting resources and the roadmaps to the next technology. Problems may arise from any source, be it technological, financial, environmental or social. These concerns necessitate calling upon a panel of experts. Each specialist must know a specific field corresponding to the problem’s source to work on the maps of contradictions.

What is forecasting? Forecasting is about making predictions based on past and present data, most commonly through analysis and trends. More often than not, especially when employing the quantitative approach, ‘forecasting’ refers to a formal statistical method employing time series, cross-sectional or longitudinal data or less formal judgmental methods. When considering forecasting and strategic decision-making approaches, it is worth noting that numerous quantitative methods are practical for operational and tactical decision-making but are of limited value when you’re making strategic decisions. You will be taught that explorative qualitative methods are widely applied to forecast innovative changes. Moreover, effective strategic decisions are limited by information relating to processing capabilities, cognitive biases and decision-maker beliefs. With some practical knowledge of forecasting, it will be much easier to grasp the concept of roadmapping.

In management, roadmapping is essential and exciting because it allows us to coordinate all levels, from pushing technology to market responses to connecting technology with suppliers, finance and scientific advancement. You will learn that the main functions of science and technology roadmaps are threefold. This course covers these and teaches you how to take these technological developments and integrate them into your business planning. Top-level managers of big companies and entrepreneurs will find this course particularly useful. Students specialising in managerial fields will find the course very interesting, particularly when strategising in the most complex business fields. Government officials will also find it helpful when defining strategies to achieve national development goals. Start this course today and become more aware of technology roadmaps and forecasting.