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The next big thing : the use of text mining analysis of crowdfunding data for technology foresight

Stöckl, S.Q.J. (2018) The next big thing : the use of text mining analysis of crowdfunding data for technology foresight.

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Abstract:Technology foresight is the systematic approach to look into the future of technologies and identify emerging fields of economic and social benefits. Foresight methods, such as roadmaps and scenarios, have been developed to structure the foresight process, acquire information and explore novel ideas. Despite the increasing volume of external data sources and data mining techniques, these methods still primarily rely on qualitative approaches that lead to inefficient and non-transparent processes. To address these limitations, this thesis suggests the systematic analysis of crowdfunding data for technology foresight applications. The goal of the research is to examine crowdfunding data in order to increase the knowledge base for foresight activities, by detecting emerging trends, technologies and markets. Six different methods are designed that can be implemented into technology foresight processes: Word clouds, keyword emergence map, market portfolio map, technology risk map, market hype curve, and co-word networks. The applicability and usefulness of the proposed methods are exemplified by a case study, analyzing the development of robot technologies. It is shown that the analysis of crowdfunding data bears the potential to support and improve foresight activities and offers new insights for strategic planning, decision making and product development.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:https://purl.utwente.nl/essays/74899
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