• Corpus ID: 14340682

Technological Forecasting – A Review

@inproceedings{Firat2008TechnologicalF,
  title={Technological Forecasting – A Review},
  author={Ayse Kaya Firat and Stuart E. Madnick and Wei Lee Woon},
  year={2008}
}

• A. Firat, S. Madnick, W. Woon
• Published 2008
• Computer Science

This report aims to summarize the field of technological forecasting (TF), its techniques and applications by considering the following questions: • What are the purposes of TF? • Which techniques are used for TF? • What are the strengths and weaknesses of these techniques / how do we evaluate their quality? • Do we need different TF techniques for different purposes/technologies? We also present a brief analysis of how TF is used in practice. We analyze how corporate decisions, such as investing millions of dollars to a new technology like solar energy, are being made and we explore if funding allocation decisions are based on “objective, repeatable, and quantifiable” decision parameters. Throughout the analysis, we compare the bibliometric and semantic-enabled approach of the MIT/MIST Collaborative research project “Technological Forecasting using Data Mining and Semantics” (TFDMS) with the existing studies / practices of TF and where TFDMS fits in and how it will contribute to the general TF field.