Gartner,
Forrester, and Radar (with a specific focus
on the Nordic market) are among the top-ranked analysts and trend-spotters with
experts monitoring and identifying the main trends, as well as niche areas in
different technologies and software platforms.
The most recent mega-trends which you most likely will have been made
aware of are – “of course” – “big data”,
“mobile everything” and “Internet of
Things”, which are part of making up the “nexus of forces”, driving a major
part of the IT investments in different industries forward. The hype-cycle curve
Over time, a pattern has been identified through which
technology trends and ideas evolve – impacting the market in different
ways. Gartner, as one of the leading
industry analysts, have branded this illustration and the stages through which
a concept moves in relation to the mindset of the market as the “hype-cycle”.
The main stages are ..
-
Technology Trigger
-
Peak of Inflated Expectations
-
Trough of Disillusionment
-
Slope of Enlightenment
-
Plateau of Productivity
.. and I’m sure that most of us can relate to these stages
to different ideas and events on a personal level as well – regardless of
relating to business or not.
There is of course a certain risk of confirmation bias
involved in dealing with trends – in part that analysts and trend-setters take
part in shaping demand as well as the supplier environment, but also
considering the fact that mainly successful examples and ‘evidence’ from past
performance are the ones remaining to as examples – failed attempts and
projects rarely remain to tell the tale.
In fairness, however, analyst companies are in general quite open and
honest with regard to the fluidity of trends as well as previous predictions
failing to come true. In general, the
actual innovation and application in a business context may be valid – but the
predicted timing can differ quite a bit vs reality for some concepts (e.g.
e-learning and associated predictions during the late 90:s).
Only dead fish
follow the stream
-
“Won’t my business just be exactly like the
competition if I keep chasing the next trend?”
The potential benefit for your specific business may not be
at the very frontline of each trend – but rather in the general direction as
established by the industry, in combination with what skilled experts and technologists can
provide bespoke applications for in relation to your
customers. A unique value-adding
offering and solution can never come ‘for free’ based on the trend itself – the
key lies in drawing maximum benefit from the general direction and wisdom of
the market as a whole, whilst establishing your own, tailor-made proposition to
your customer base.
Enfo is constantly working with customers as well as market
analyst firms to make sure we develop the right set of competencies as well as
the product- and services offering suited to meet the customer requirements
ahead of the main market trend.
Regardless if your ambition is to be the unchallenged leader of the pack
by breaking ground through technical innovation, or if you want to discuss
where and how to differentiate your business versus the competition within the
existing macro trend we’re here to help.
By the way, one of the predominant trends over the past 20
years is to focus on your specific core expertise, minding your own business,
whilst working in partnership with experts in other fields such as technology
or logistics, to provide better customer value.
Ignore it at your peril!
Fredric Travaglia, Business Development
Consultant @ EnfoKeep up to speed with new posts to The Project Manager Toolbox blog through RSS or join the discussion on Twitter @ FxTravaglia
