The technology evaluation process is complex, time-consuming, and requires a wide range of perspectives. Those companies that invest their resources in this process will have a greater chance of successfully implementing and adapting new technologies to the business environment.
One of the most important factors for evaluating technology is its ability to meet consumer expectations and needs. This includes considering a new product’s usability, which is determined by how easy it is to understand and use. It also involves analyzing the technology’s ecosystem and assessing whether it is expanding or shrinking. A great way to get a clearer picture of this is by analyzing existing pilot projects or proof of concepts that leverage the technology.
Another factor to consider is the potential social impact of a new technology. This is particularly important for emerging technologies, which have the potential to affect society and human behaviour. Unanticipated risks could include health, environmental, and legal issues. For example, an invasive digital technology might lead to the loss of data or even threaten user privacy.
Finally, it’s important to assess a new technology’s capability to benefit the company. This involves thinking through the potential benefits with your team and evaluating technologies on relevant criteria, such as business potential, application scope, and potential impact. This will help you determine which technologies have the potential to add value to your business and which may not be worth the investment. Learn how to effectively evaluate technology with the Gartner BuySmart solution.