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Function score-based technological trend analysis

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  • Mun, Changbae
  • Yoon, Sejun
  • Raghavan, Nagarajan
  • Hwang, Dongwook
  • Basnet, Subarna
  • Park, Hyunseok

Abstract

This paper proposes a new method to quantitatively evaluate the relative importance of a functionality in a technological domain at a specific time, called function score. Based on the function score and actual demand for each functionality, we developed a framework to analyze dynamic functional trends in a technological domain. To test the proposed method, this paper conducted an empirical study using Genome sequencing technology. The result shows that most of the important functionalities in different periods are well identified by the function score. The trend analysis framework effectively visualizes the dynamic changes of importance and demand for functionalities in Genome sequencing, and the results were also found to be qualitatively acceptable. Therefore, the proposed trend analysis based on the function score is being proposed here as a novel useful for understanding the fundamental developmental trends that occur within a technological domain.

Suggested Citation

  • Mun, Changbae & Yoon, Sejun & Raghavan, Nagarajan & Hwang, Dongwook & Basnet, Subarna & Park, Hyunseok, 2021. "Function score-based technological trend analysis," Technovation, Elsevier, vol. 101(C).
    • Handle: RePEc:eee:techno:v:101:y:2021:i:c:s0166497220300717
    DOI: 10.1016/j.technovation.2020.102199
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