Module 1: Technology Lifecycle

It is possible to find pieces of technology at home. You can make research about the evolution of technology based on the stuff you see in your house. This means you can try to think or predict what the technology would look like in the future.  
Technology is the summary of three main components

Artifacts: purposefully designed and manufactured objects (hardware)
Knowledge and skills (software) required to design, manufacture and to deliver, to use a technology
Institutional settings and rules for the generation of technological knowledge and for the use of technologies (Orgware)

The lifecycle of a system consists of various stages:

Birth
Growth
Maturity
Decline
Death

When considering the model of the seasons and lifecycle of technology, for different technology, the length of the time is different.  There are different time or clockspeed for different technologies. All kinds of technologies can be split by:

Fast-paced industries
Medium-paced industries
Slow-paced industrie

Considering the scope of technological forecast, it is worthy to mention that the application of existing technologies allows to satisfy new customer’s needs. It also results in socio-economic challenges.
Things such as observation, calculation, and modelling are used in technological forecasting.