The Tech Hype Cycle
August 19, 2014
Yesterday, Taylor Swift released a new pop1 album, Johnny Manziel gave Washington the bird, and the Internet of Things usurped Big Data as this year’s top tech trend. In its 2014 report on the hype cycle for emerging technologies, tech research and advisory firm, Gartner, Inc., said the obsession with the Big Data gold mine has reached its peak and is giving way to autonomous vehicles and neurobusiness. For the past 20 years, Garter has released its annual conjecture on tech buzzwords and trends as a guide for innovators to maximize which technologies to deploy and when.
Coincidentally, just as Gartner released its findings, the MIT Technology Review cautioned about the hazards of forecasting with unreliable data. And, Nate Silver, founder of FiveThirtyEight – arguably one of the best when it comes to accurately digesting data – urged restraint to treating it as a magic salve.
What does it mean?
While Big Data isn’t vanishing, it has gone mainstream, i.e. Silicon Valley will be turning its attention to creating The Next Big Thing. According to Evans Data which recently surveyed 1,400 developers, nearly 20% are working on IoT ventures, and another quarter of them are expected to begin IoT projects by early near year.
There’s a great deal of talk about shifting the focus from “cool hunting,” to actually applying innovations to real business objectives and outcomes. The challenge comes in determining what’s hype and what’s tangible. Those able to tell the difference will lead the way in ideation, adoption, and acceptance.
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