The technology matrix – A tool-based method for technology scouting

Abstract

The digital transformation of businesses is crucial when initiating business model innovations and using technology as added value. The difficulty today for businesses is to keep track of emerging technology trends that are relevant and could significantly support their digitalization process. Especially for small and medium-sized enterprises, which often do not have the resources for a proper investigation of emerging technologies. This research paper presents the technology matrix, a new tool-based method of scouting technology trends, based on the relevant factors business impact, project size, and feasibility of the incorporation of the technologies. Existing technology scouting tools on the markets where analyzed on their strength and weaknesses and best practices were incorporated into the developed technology matrix. Furthermore, expert interviews have led to important inputs when designing the technology matrix.