Question

1. An example of technology life cycle model proposed by Gartner, a technology advisory company, is Gartner's Hype Cycle. Describe in your own words:

- What it is?

- What are the reasons or rationales behind it and each of its phases?

- What is the recommended use of Gartner's Hype Cycle?

Answer 1

GARTNER'S HYPE CYCLE

Gartners hype cycle is a graphical representation of the stages when a technology moves from conception to maturity and widespread adoption. It is a branded created by Gartner , an information technology Research and consultancy company. These are the stages Defined by Gartner in the Hype cycle which are used as the reference points in marketing and Technology reporting. Businesses uses the hype cycle to guide the technology decisions in accordance with their comfort level with risk. Each stage of the cycle is associated with its own risk and opportunities.

Gartner Hype cycle gives us a  view of how a technology or application will evolve over the time , providing a sound source of insight to manage its deployment within the context of the specific business goals. It represents the maturity, adoption and social application of specific Technologies.

REASONS BEHIND GARTNERS HYPE CYCLE

* Hype cycle helps to understand that how the perceived value of a given Technology evolves over the course of its maturity life cycle.

* It speculates on the potential growth trajectory and value that can be obtained by exploiting the technology in its current and next maturity phase.

* It always helps the organisation to answer key question every time a new technology innovation presents value or disillusionment: Should an organisation invest in the technology?.

* Hype cycles offer a snapshot relative market proportion and perceived value of innovations. They highlight overhyped areas, make an estimation about when innovations and Trends will reach maturity and provide actionable advice to help organisations decide when to adopt.

PHASES OF GARTNER'S HYPE CYCLE

There are five stages or categories that occurs as far as the Rise and emergence of new technology is concerned . They are given as follows:

1. Technology trigger: Technology Trigger is the first stage in the emergence of Technology, where a potential Technology gets a breakthrough. Events like product launch, press meet, public demonstration etc take place in order to bring it to the notice of the public or the target audience. In this stage, the creators try to publicize the technology as much as we can .All the technology makers are using these methods so as to raise the Awareness of the product in order to attract maximum consumers or businesses towards it.

2. Peak of inflated expectations: This is the second stage in the hype cycle and is associated with over enthusiasm about the new technology. This over enthusiasm is created with the help of media channels by the company like newspaper ,advertisements, magazines, social media etc. Some of the technologies are successful whereas other prove to be a failure. It is up to the creators of the technology to move ahead from their and optimise their success Magazine Publishers, media companies and conference organisers are the ones who are truly making the money at this stage. Expectations and promotions are at peak at this stage. Businesses whose technologies are adapted by others may begin to think of a better ways to distribute the product and gain maximum revenue.

3.Trough of disillusionment: At this stage ,there comes a point when the hype cycle begins to descends and the media and the press abandons the topic or technology and the interest goals of the technology now becomes unfashionable . People are bored about the technology and even the creators have no interest in publicizing it anymore. It happens in the case when Technology does not fulfill the hype it has created earlier . But ,in very rare cases when technology works very efficiently, the curve doesn't bend down.

4. Slope of enlightenment: It is the stage when the people began to understand how the technology can prove to be useful. It is basically the result of hard work and focused experimentation of some organisations. Their hard work bears the risk, benefits as well as the application of the technology. Certain tools and methods evolve in order to make the development process more easier and convenient and help the business to understand how the technology can be proved to be effective for them . Technology creators can launch the other variants of the product at the stage ,if it may seem the right time to capitalise on the building understanding.

5. Plateau of productivity: When the benefits and application of the technology has become the widespread ,knowledge , mainstream adoption begins to take place . Methods and tools related technology are have now made their place ,on the second and third generation of product also emerge as productive, the final step of the plateau depends upon whether the technology ,if it's only for a  certain segment of the market or whether it is widely accepted and applied.

RECOMMENDED USE OF GARTNER'S HYPE CYCLE

* Hype cycle helps to separate Hype from the real drivers of Technology commercial promise .

* It reduces the risk of Technology investment decisions.

* It compares understanding of a technology business value with the objectivity of experienced IT analyst.

Hype cycle for technology and marketing:

Hype cycle has many Technology related applications like CRM, ERP, eCommerce, brain computing and virtual personal assistant etc. since its launch 10 years ago. Some of the technologies are at the peak,whereas others may be hitting the trough of disillusionment.for example: some areas of social media marketing are now losing their Shine and slipping down the curve.

Hype cycle for big data:

It is a Term used for very large size data on which regular data processing methods are not effective. Big data as well as data management were both at the peak of height cycles but have now moved over it. The big data is at its peak ,it is still in a lot of demand across many Industries who used to manage and evaluate large quantities of data. Some other Technologies have also moved over the peak including consistent data management , web-scale applications etc. Big data has now gone in the phase of trough of disillusionment.

Hype cycle in CRM( Customer Relation Management):

Customer relationship management is used to manage companies communication and connection with both existing and potential customers. CRM takes in to use technology to automate ,organise and assimilate marketing sales, customer service and Technical assistance . More than half of the technology is covered in this concept are on the slope of enlightenment where and sales performance management as well as mobility are still growing as far as the popularity and importance are concerned. Technologies that are now sliding the trough include price management, Optimisation etc and that are climbing the slope are Lead Management ,sales training solutions ,relationships management, IT sector .Technologies which are still entering the plateau include proposal generation systems and mobile sales force, automation for the inventory and or the orders.

Hype cycle for education:

Hype cycle  for education help Educational Institutes to monitor new and emerging Technologies that helps in academic . With this concept ,one can not only create but also share information relating to technology. It help to:

* learn about new and emerging Technologies and new ways to support teaching and learning.

* Share teaching and learning experience with the help of new technologies and resources .

* Learns to innovates by using and adopting Technologies as well as utilising Technologies into Course work.

CONCLUSION:

The Gartners Hype cycle is one of the more brilliant insights in the history of Technology. It  might not be a law of nature ,but as a law of Technology markets ,the Hype cycle is pretty consistent.