What is technology watch?


What kind of technologies are emerging in my sector? Are there other fields of application for my technology or product? How can I monitor my competitors and detect changes in my technological sector? How can I modify my strategic plan to differentiate myself from my competitors? In this post we explain what Technology Watch and Competitive Intelligence are and how to solve all these questions. Take note!

We can understand Technology Watch (TW) as a process based on the collection and analysis of information about a key aspect that influences an organisation: a new emerging technology in its sector, a new product, market trends or strategic information.
On the other hand, Competitive Intelligence (CI) deals with the analysis and gathering of information directly related to our competitors (current or potential), study of their products, benchmarking, their market strategies, among others.

The use of both processes VT and IC through the systematic search of technological/commercial information and its analysis will allow obtaining all the key information for making the most appropriate strategic decisions in an organisation, also taking into account its internal situation and the influence of the environment.

The latest version of the UNE 166006:2018 standard on ‘R&D&I management: Surveillance and intelligence system’ unifies the concepts of surveillance and intelligence, eliminating the adjectives technological and competitive respectively. The standard defines the concept of surveillance and intelligence as the ethical and systematic process of collecting and analysing information about the business environment, competitors and the organisation itself, and communicating its significance and implications for decision-making. Despite this change, it is very common in the market to continue using the terms we have described above.

How can FEUGA help you?

From our iHUB FEUGA department we offer the VT/IC service in two phases:
– PHASE I. Technology watch. Systematic search for technological information
Identification of information needs, information sources such as patent and market databases, scientific journals, scientific publications, competitors’ publications, new product launches, newsletters, RRSS, etc.), as well as special sources (trade fairs or commercial databases) with continuous monitoring of the results.
– PHASE II. Competitive intelligence. Analysis of the results
Once the research has been carried out, we validate the information and analyse the technological and/or market options, the impacts and interactions between technologies, products and processes or the expected evolution of the technology. We also help you to detect investment and marketing opportunities and social trends that may favour or harm your project. Finally, we will inform you about the behaviour of your competitors.
Get ahead of your competition and get your project off the ground. Can we help you?