Obtaining advantages from knowledge base: mapping the potential to develop new technologies

Abstract

ABSTRACT It is necessary for the company to find suitable new growth points when growth hits the ceiling. Technology opportunity discovery is one kind of knowledge based risk mitigation strategy (TOD). Computer-based TOD has the advantage of fast and repeatable analysis, which can be used as a complement and reference to expert decision methods. This research shows an approach to help firms to discover technology opportunities based on their knowledge foundation to obtain a competitive advantage. The proposed method involves (1) identifying the critical technologies by text analysis, measuring the importance of technology in the network and the time of bursts, (2) evaluating the relative technological advantage (RTA) of the firms as knowledge base, (3) Calculating the relatedness between technologies, assessing the development potential of non-RTA technologies from the firm’s current knowledge base and the relatedness between technologies, (4) proposing a technology opportunity analysis framework that integrates the potential and importance for technological development. This article chooses Self-Driving Vehicles (SDV) as a case study to further explain and validate the approach. This approach helps firms understand their current state and growth potential. Such recommendations are based on the knowledge foundation of different firms and therefore are individualised.