Tech & Trend Radars: How To Never Miss New Business Opportunities

New technologies and trends can either cause disruptions or opportunities for your company. That is why an early-warning system about such game-changers is essential for any business to stay competitive. Tech and trend radars enable you to see all these forces of change in the world, identify their relevance for your business, and prioritize them in your innovation plan.

Keep Track of Trends and Emerging Technologies

Imagine you are an air traffic controller. Airplanes approach the airport from all sides. Each plane has a different speed, altitude, and proximity to the runway. How do you visualize all these variables and guide the planes to a safe landing while the clock is ticking? Air traffic controllers look at radar displays to make faced-paced decisions. Astronomers even use radar technology to map the surface of far-off planets. These are real-world radar applications, but what do tech and trend radars do?

In the field of innovation management, technology and trend radars help you visualize current and future trends that can impact your business. On a tech radar, each dot represents a type of emerging technology, such as aerogel, organic electronics, or the type of powered exoskeleton that Iron Man wears. The dots on a trend radar, in comparison, do not indicate material things, but rather societal forces such as a plastic-free mindset, changing perceptions of retirement, or hobby culture. Imagine yourself at the center of the radar’s concentric circles. The dots at the edges of the radar are like planes still further away; you don’t have to worry about them immediately. But the dots near the center of the radar, those are trends and technologies predicted to have a huge impact on business and society. You need to be aware of those imminent forces and incorporate them into your company’s strategy.

The Gartner® Hype Cycle™ for Innovation Management Techniques, 2021 is a graphic representation of the maturity and adoption of various methods in innovation management¹. It places Tech and Trend Radars on the “Slope of enlightenment” phase of the cycle, predicting that it will reach its plateau in two years. This means that this radar method has passed the peak of inflated expectations and should soon be part of the standard tools of innovation managers.

Gartner recommends that businesses use trend radars as a critical step in the trendspotting process to identify how disruptions create risk and opportunity for the company. Radars are living documents, says Gartner, that organizations should update continuously with the latest trendspotting information.

Stay Ahead with ITONICS Radars

Fortunately, ITONICS Radars come pre-filled and are constantly updated with new trends, emerging technologies, and inspirations for specific industries. That means we have done the hard work for you. Your job is to apply insights and know which trends and technologies are most relevant to your business. Showcase the radars in meetings with your business leaders to align the organization and establish a process to vet technologies that could benefit the company.

Build an innovation engine with the ITONICS Radar Tool to unveil future business opportunities and threats. Radars can save companies time and reduce the risks of misunderstood technologies.

Gartner, Hype Cycle for Innovation Management Techniques, 2021, 12 July 2021, Jackie Fenn et. Al.

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