TECHNICAL INTELLIGENCE IN BUSINESS - UNDERSTANDING TECHNOLOGY THREATSAND OPPORTUNITIES

In this age of rapid technological innovation, firms that do not stay abreast of the latest advancements in science and technology (S&T) sta nd a greater chance of missing opportunities than firms that maintain vigilance over the ever-changing technical environment. As a result, a resurgence of interest in technical intelligence for business is occu rring in companies around the globe. Many firms now have formal techni cal intelligence programs to gather, analyze and use S&T information t o watch their competitors, to track emerging trends in technological d evelopment and to anticipate significant technology-based changes in k ey markets. Careful management of technical information that affects a business can have a vital influence on corporate profitability and lo ng-term health. This paper describes the main features of technical in telligence operations in business, drawing on the experience of severa l companies that develop and use intelligence information. The steps o f gathering, analyzing, evaluating and using information for business decisions are described and examples are given to illustrate how intel ligence concepts are implemented in firms from several different indus tries. Practical issues such as understanding user needs, data collect ion, effective analysis methods and using intelligence results are cov ered in the paper.