Technology Readiness Meaning and Its Levels

Understanding the technology readiness meaning is essential, especially these days when growing technological advances. Companies need to optimize the process and also streamline the demands. Those things are fundamental factors that will boost the revenues of the company.

Also, companies must analyze which procedures and processes require more time and also have high inconsistencies. This way, companies will get indicators that will highlight the gaps they need to work on. You will also know what obstacles prevent you from achieving your goals.

Understanding The Technology Readiness Meaning

Measuring the technology maturity or readiness level of your company, tools, and processes is an excellent way to raise some essential points and also to guide different departments so that they can take the right actions.

Technology readiness itself means the system used to measure and evaluate the processes of the company and the technology your company uses. This is going to help you see the various values gained in different areas and also how to reallocate actions you need.

Why Measuring the Technology Readiness

One reason why you should measure technology readiness is to help your company optimize the processes so that the company can evolve. It is important to understand the right way to analyze since it is going to be the basis that will help you make the best decision.

The analysis should be objective and only collect the data you need. This is going to help your company make the right, clear, and assertive decision. Some factors can slow the development of the demand. Some of them are:

• No efficient and effective communication between teams. All teams from different departments should know how to communicate clearly so that they can cooperate in helping the company achieve its goals.

• Broken processes can also slow the development of the demand. Broken processes may run part digital and part physical. This will make your company fail to develop.

• Other factors like too many tasks, loss of information, and reworking can also affect the development of the company.

After understanding the technology readiness meaning and why you need to measure it, you need to map out the bottlenecks. And then you will be able to review the information before working on the new assessments.

What Is Technology Readiness Index?

A. Parasuraman introduced the TRI or technology readiness index in 2000. It has 36 attributes that are going to measure the components and the construct. The updated and streamlined version has only 16 attributes. It is called TRI 2.0 and was introduced in 2015 by Colby and Parasuraman.

The model of technology readiness is nothing like the famous TAM or technology acceptance model. Technology readiness is measuring beliefs owned by an individual about general cutting-edge technology. And the TAM model is measuring acceptance towards a more specific technology.

Technology readiness is offering a specific way to segment consumers, specifically based on the underlying negative and positive technology beliefs.

Different Levels of Technology Readiness

Understanding technology readiness meaning must be followed by knowing the different levels of technology readiness. Below are some different levels of technology readiness.

1. Level 1

This is when basic principles will be observed and also reported. This lowest technology maturation level is when companies start translating scientific research into future research as well as development procedures.

2. Level 2

Technology application and/or concept will be formulated but the application will still be speculative. It happens when the company is observing basic physical principles and applying the characteristics to the findings in the initial procedure.

3. Level 3

This is where the company initiates research and design/development. At this level, the experiments and analytical studies’ validation in the previous level will happen. The experiments and studies must be proof-of-concept validation from the previous concept.

4. Level 4

Component validation in the laboratory environment. After proofing the concept, different parts of the components will be tested on one another.

5. Level 5

This level is validating the component in the relevant environment. This level is the continuation of the previous level. however, the number of pieces that will be tested will increase significantly.

The different levels show that technology readiness meaning is essential. And it is crucial to use the latest technology to develop your business. Get the most updated technology like the Hitech Terminal Enterprise from the SMS Broadcaster to grow your business immediately.