Technology Life Cycle Analysts (TLCA) is corporate life cycle analysts that analyze and provide data analysis for a wide range of technological enterprises ranging from consumer-product manufacturers to utility companies. The technology life-cycle represents the product’s cost of production, through all the various research and development phases, and its eventual economic return through its “life”. This is a very complex process that involves numerous activities such as business planning, product development, business optimization, business financing, marketing, sales, distribution, and service. The life cycle of any technology enterprise extends for more than twenty years in most cases.
In this article we will discuss the TLCA approach and what it is trying to achieve. We will examine what happens during the technology life-cycle, the key drivers that drive the process, and how organizations can evaluate their own technology adoption, their key drivers and the status of their technology maturity stage. After reading this article you should be able to understand why TLCA is important for a technology enterprise.
The technology life cycle begins at the invention stage, where a new idea or concept is brought forth by a unique set of circumstances. The goal of the innovator is to apply the new knowledge and ideas to a particular problem with the aim of developing solutions for new problems. The original technologies may have a variety of applications and this will depend on the particular industry in which the innovator operates. The ultimate objective of the innovator is to realize his or her learning objectives, which can include monetary, social, environmental, and other rewards.
Once the learning objectives have been realized, the next phase is to translate these discoveries into new products or services. Innovation takes place in many forms including design concept creation, development of prototypes, testing of these prototypes, regulatory submission, commercialization, and finally scale-up. Innovation processes are dynamic, depending on the specific technology. However, the key learning objectives are to minimize costs, maximize profits, reduce risks, and reduce waste.
The fourth stage of the technology life cycle is the results of these innovations. The key objective is to identify the opportunities to make money. Opportunity cost is a concept that states that if an inventor or creator of a technological product creates the ultimate product or service, he or she would have produced a service or product but would have produced it at a lower cost, if there had not been such a creation. This aspect of the technology life cycle is crucial and is considered very vital by many in the business community.
The fifth stage of the new technology life cycle, after the testing and review stage, is the deployment process. This involves the production of these new innovations in a real-world setting. When the innovations reach sufficient maturity as a practical solution to a pressing business problem, they are deployed. This is also known as roll-off technology and is considered to be one of the most important factors in the profitability of new technologies.