Study of Technology Forecasting Methods

The primary function of forecasting is to predict the future using data we have in hand. Technological forecasting is the process of predicting the future characteristics and timing of technology. The technology forecasting methods can be classified as exploratory and normative forecasting methods. There are many changes being performed in different technologies such as software technologies, computing technologies, hardware technologies, etc. There is a need to find the trends and predict the future of these technologies. The technology forecasting methods are useful to find the trends and predict the future. In this paper, we focused on various technology forecasting methods which can be used to track the trends of different technologies.

Keywords: Technology forecasting, Exploratory, Normative.