Product analysis

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Product analysis involves examining product features, costs, availability, quality, appearance and other aspects. Product analysis is conducted by potential buyers, by product managers attempting to understand competitors and by third party reviewers. [1] [2]

Contents

Product analysis can also be used as part of product design to convert a high-level product description into project deliverables and requirements. It involves all facts of the product, its purpose, its operation, and its characteristics.

Techniques

Related techniques include product breakdown, systems analysis, systems engineering, value engineering, value analysis and functional analysis. [3]

Technology analysis

Technological analysis is sometimes applied in decision-making often related to investments, policy-decisions [4] and public spending. They can be done by a variety of organization-types such as for-profit companies, [5] non-profit think tanks, research institutes, public platforms and government agencies [6] and evaluate established, emerging and potential future technologies on a variety of measures and metrics – all of which are related to ideals and goals such as minimal global greenhouse gas emissions – such as life-cycle-sustainability, openness, performance, control, [7] financial costs, resource costs, health impacts and more. Results are sometimes published as public reports or as scientific peer-reviewed studies.[ additional citation(s) needed ] Based on such reports standardization can enable interventions or efforts which balance competition and cooperation [8] and improve sustainability, reduce waste and redundancy, [9] or accelerate innovation. They can also be used for the creation of standardized system designs that integrate a variety of technologies as their components. [10] Other applications include risk assessment and research of defense applications. [11] They can also be used or created for determining the hypothetical or existing optimal solution/s [7] and to identify challenges, innovation directions and applications. [12] Technological analysis can encompass or overlap with analysis of infrastructures and non-technological products.

Standard-setting organizations can "spearhead convergence around standards". [13] A study found that, in many cases, greater variety of standards can lead to higher innovativeness only in administration. [14] Tools of technology analysis include analytical frameworks that describe the individual technological artefacts, chart technological limits, and determine the socio-technical preference profile. [15] Governments can coordinate or resolve conflicting interests in standardisation. [16]

Moreover, potentials-assessment studies, including potential analyses, can investigate potentials, trade-offs, requirements and complications of existing, hypothetical and novel variants of technologies and inform the development of design-criteria and -parameters and deployment-strategies. [17] [18] [19] [20]

See also

Related Research Articles

Standardization or standardisation is the process of implementing and developing technical standards based on the consensus of different parties that include firms, users, interest groups, standards organizations and governments. Standardization can help maximize compatibility, interoperability, safety, repeatability, or quality. It can also facilitate a normalization of formerly custom processes.

<span class="mw-page-title-main">Disruptive innovation</span> Technological change

In business theory, disruptive innovation is innovation that creates a new market and value network or enters at the bottom of an existing market and eventually displaces established market-leading firms, products, and alliances. The term, "disruptive innovation" was popularized by the American academic Clayton Christensen and his collaborators beginning in 1995, but the concept had been previously described in Richard N. Foster's book "Innovation: The Attacker's Advantage" and in the paper Strategic Responses to Technological Threats.

<span class="mw-page-title-main">Innovation</span> Practical implementation of improvements

Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.

In business administration, absorptive capacity is defined as a firm's ability to recognize the value of new information, assimilate it, and apply it to commercial ends. It is studied on individual, group, firm, and national levels. Antecedents are prior-based knowledge and communication. Studies involve a firm's innovation performance, aspiration level, and organizational learning. It has been said that in order to be innovative an organization should develop its absorptive capacity.

<span class="mw-page-title-main">Life-cycle assessment</span> Methodology for assessing environmental impacts

Life cycle assessment or LCA is a methodology for assessing environmental impacts associated with all the stages of the life cycle of a commercial product, process, or service. For instance, in the case of a manufactured product, environmental impacts are assessed from raw material extraction and processing (cradle), through the product's manufacture, distribution and use, to the recycling or final disposal of the materials composing it (grave).

<span class="mw-page-title-main">Diffusion of innovations</span> Theory on how and why new ideas spread

Diffusion of innovations is a theory that seeks to explain how, why, and at what rate new ideas and technology spread. The theory was popularized by Everett Rogers in his book Diffusion of Innovations, first published in 1962. Rogers argues that diffusion is the process by which an innovation is communicated over time among the participants in a social system. The origins of the diffusion of innovations theory are varied and span multiple disciplines.

In business analysis, PEST analysis describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. It is part of an external environment analysis when conducting a strategic analysis or doing market research, and gives an overview of the different macro-environmental factors to be taken into consideration. It is a strategic tool for understanding market growth or decline, business position, potential and direction for operations.

<span class="mw-page-title-main">Business analyst</span> Person who analyses and documents a business

A business analyst (BA) is a person who processes, interprets and documents business processes, products, services and software through analysis of data. The role of a business analyst is to ensure business efficiency increases through their knowledge of both IT and business function.

A technology roadmap is a flexible planning schedule to support strategic and long-range planning, by matching short-term and long-term goals with specific technology solutions. It is a plan that applies to a new product or process and may include using technology forecasting or technology scouting to identify suitable emerging technologies. It is a known technique to help manage the fuzzy front-end of innovation. It is also expected that roadmapping techniques may help companies to survive in turbulent environments and help them to plan in a more holistic way to include non-financial goals and drive towards a more sustainable development. Here roadmaps can be combined with other corporate foresight methods to facilitate systemic change.

Strategic foresight is a planning-oriented discipline related to futures studies. In a business context, a more action-oriented approach has become well known as corporate foresight.

Open innovation is a term used to promote an information age mindset toward innovation that runs counter to the secrecy and silo mentality of traditional corporate research labs. The benefits and driving forces behind increased openness have been noted and discussed as far back as the 1960s, especially as it pertains to interfirm cooperation in R&D. Use of the term 'open innovation' in reference to the increasing embrace of external cooperation in a complex world has been promoted in particular by Henry Chesbrough, adjunct professor and faculty director of the Center for Open Innovation of the Haas School of Business at the University of California, and Maire Tecnimont Chair of Open Innovation at Luiss.

Technology forecasting attempts to predict the future characteristics of useful technological machines, procedures or techniques. Researchers create technology forecasts based on past experience and current technological developments. Like other forecasts, technology forecasting can be helpful for both public and private organizations to make smart decisions. By analyzing future opportunities and threats, the forecaster can improve decisions in order to achieve maximum benefits. Today, most countries are experiencing huge social and economic changes, which heavily rely on technology development. By analyzing these changes, government and economic institutions could make plans for future developments. However, not all of historical data can be used for technology forecasting, forecasters also need to adopt advanced technology and quantitative modeling from experts’ researches and conclusions.

Technology Intelligence (TI) is an activity that enables companies to identify the technological opportunities and threats that could affect the future growth and survival of their business. It aims to capture and disseminate the technological information needed for strategic planning and decision making. As technology life cycles shorten and business become more globalized having effective TI capabilities is becoming increasingly important.

Innovation management is a combination of the management of innovation processes, and change management. It refers to product, business process, marketing and organizational innovation. Innovation management is the subject of ISO 56000 series standards being developed by ISO TC 279.

Technology scouting is an element of technology management in which

Innovation Intermediaries is a concept in innovation studies to help understand the role of firms, agencies and individuals that facilitate innovation by providing the bridging, brokering, knowledge transfer necessary to bring together the range of different organisations and knowledge needed to create successful innovation. The term open innovation intermediaries was used for this concept by Henry Chesbrough in his 2006 book as "companies that help other companies implement various facets of open innovation".

Corporate foresight has been conceptualised by strategic foresight practitioners and academics working and/or studying corporations as a set of practices, a set of capabilities and an ability of a firm. It enables firms to detect discontinuous change early, interpret its consequences for the firm, and inform future courses of action to ensure the long-term survival and success of the company.

Horizon scanning (HS) or horizon scan is a method from futures studies, sometimes regarded as a part of foresight. It is the early detection and assessment of emerging technologies or threats for mainly policy makers in a domain of choice. Such domains include agriculture, environmental studies, health care, biosecurity, and food safety.

In business administration, desorptive capacity has been defined as "an organization’s ability to identify technology transfer opportunities based on a firm’s outward technology transfer strategy and to facilitate the technology’s application at the recipient". It is considered as a complement to absorptive capacity, and it may be a driver of a successful knowledge transfer.

Future-oriented technology analysis (FTA) is a collective term from futures studies for analyzing future technology and its consequences. It includes technology intelligence, technology forecasting, technology roadmapping, technology assessment, and technology foresight. Technology Futures Analysis or Technology Future Analysis (TFA) is a synonym.

References

  1. ↑ "Product Analysis".
  2. ↑ "Product Analysis".
  3. ↑ "Diploma in Project Management - How to Define a Product Analysis". lmit.edu.au. Retrieved 2017-05-08.
  4. ↑ Cagnin, Cristiano; Keenan, Michael; Johnston, Ron; Scapolo, Fabiana; Barré, Rémi, eds. (2008). Future-Oriented Technology Analysis. doi:10.1007/978-3-540-68811-2. ISBN   978-3-540-68809-9.
  5. ↑ "Gigafactories: Europe tools up against US and Asia as a car battery force". BBC News. 14 June 2021. Retrieved 27 October 2021.
  6. ↑ Weinberger, Nora; Decker, Michael; Fleischer, Torsten; Schippl, Jens (December 2013). "A new monitoring process of future topics for innovation and technological analysis: informing Germanys' innovation policy". European Journal of Futures Research. 1 (1): 1–9. doi: 10.1007/s40309-013-0023-4 . ISSN   2195-2248. S2CID   11912338.
  7. 1 2 Jakubaszek, Anita; Stadnik, Artur (1 March 2018). "Technical and Technological Analysis of Individual Wastewater Treatment Systems". Civil and Environmental Engineering Reports. 28 (1): 87–99. Bibcode:2018CEER...28a..87J. doi: 10.2478/ceer-2018-0008 . S2CID   54578649.
  8. ↑ Van Wegberg, Marc (1 December 2004). "Standardization Process of Systems Technologies: Creating a Balance between Competition and Cooperation". Technology Analysis & Strategic Management. 16 (4): 457–478. doi:10.1080/0953732042000295784. ISSN   0953-7325. S2CID   219645198.
  9. ↑ "One common charging solution for all". Internal Market, Industry, Entrepreneurship and SMEs - European Commission. 5 July 2016. Retrieved 19 October 2021.
  10. ↑ Zhou, Hong; Liu, BingWu; Dong, PingPing (2012). "The Technology System Framework of the Internet of Things and Its Application Research in Agriculture". Computer and Computing Technologies in Agriculture V. IFIP Advances in Information and Communication Technology. Vol. 368. Springer. pp. 293–300. doi: 10.1007/978-3-642-27281-3_35 . ISBN   978-3-642-27280-6.
  11. ↑ Affan Ahmed, Syed; Mohsin, Mujahid; Zubair Ali, Syed Muhammad (1 April 2021). "Survey and technological analysis of laser and its defense applications". Defence Technology. 17 (2): 583–592. doi: 10.1016/j.dt.2020.02.012 . ISSN   2214-9147. S2CID   213597813.
  12. ↑ Monika, R.; Samiappan, Dhanalakshmi; Kumar, R. (1 January 2021). "Adaptive block compressed sensing - a technological analysis and survey on challenges, innovation directions and applications". Multimedia Tools and Applications. 80 (3): 4751–4768. doi:10.1007/s11042-020-09932-0. ISSN   1573-7721. S2CID   224993325.
  13. ↑ Narayanan, Vadake; Baburaj, Yamuna (31 August 2021). "Technology Standardization in Innovation Management". Oxford Research Encyclopedia of Business and Management. doi:10.1093/acrefore/9780190224851.013.340. ISBN   978-0-19-022485-1.
  14. ↑ Zhou, Xin; Shan, Miyuan; Li, Jian (3 July 2018). "R&D strategy and innovation performance: the role of standardization". Technology Analysis & Strategic Management. 30 (7): 778–792. doi:10.1080/09537325.2017.1378319. ISSN   0953-7325. S2CID   205638231.
  15. ↑ Wyk, Rias J. Van (1990). "Technology analysis and R&D management". R&D Management. 20 (3): 257–261. doi:10.1111/j.1467-9310.1990.tb00715.x. ISSN   1467-9310.
  16. ↑ Kwak, Jooyoung; Lee, Heejin; Fomin, Vladislav V. (1 August 2011). "Government coordination of conflicting interests in standardisation: case studies of indigenous ICT standards in China and South Korea". Technology Analysis & Strategic Management. 23 (7): 789–806. doi:10.1080/09537325.2011.592285. ISSN   0953-7325. S2CID   42482650.
  17. ↑ Yirka, Bob. "Model suggests a billion people could get safe drinking water from hypothetical harvesting device". Tech Xplore. Retrieved 15 November 2021.
  18. ↑ Surinaidu, L.; Rahman, Abdur; Ahmed, Shakeel (3 June 2021). "Distributed groundwater recharge potentials assessment based on GIS model and its dynamics in the crystalline rocks of South India". Scientific Reports. 11 (1): 11772. Bibcode:2021NatSR..1111772F. doi:10.1038/s41598-021-90898-w. ISSN   2045-2322. PMC   8175507 . PMID   34083557.
  19. ↑ Brahmi, Nabiha; Chaabene, Maher (March 2015). "Sizing optimization tool for wind/Photovoltaic/Battery plant considering potentials assessment and load profile". IREC2015 the Sixth International Renewable Energy Congress. pp. 1–6. doi:10.1109/IREC.2015.7110962. ISBN   978-1-4799-7947-9. S2CID   37130046.
  20. ↑ Ermolenko, Boris V.; Ermolenko, Georgy V.; Fetisova, Yulia A.; Proskuryakova, Liliana N. (15 October 2017). "Wind and solar PV technical potentials: Measurement methodology and assessments for Russia". Energy. 137: 1001–1012. doi:10.1016/j.energy.2017.02.050. ISSN   0360-5442.
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