Eclipse Authors: Pat Romanski, Elizabeth White, Liz McMillan, David H Deans, JP Morgenthal

News Feed Item

Hype Happens: Gartner Examines How Business Leaders Can Master the Hype Cycle to Adopt the Right Technologies at the Right Time

Analyst Highlights Findings From Latest Book "Mastering the Hype Cycle: How To Choose the Right Innovation at the Right Time" at Gartner Symposium/ITxpo 2008, October 12-16, in Orlando

Companies and nations rely on innovation to improve productivity and fuel economic growth, but they dont necessarily have to excel at originating innovation to be competitive they have to be able to apply innovation successfully, according to Gartner, Inc. Gartner examines the importance of adopting the right technology at the right time in the newly released book Mastering the Hype Cycle: How to Choose the Right Innovation at the Right Time, published by Harvard Business School Press.

Jackie Fenn, vice president and Gartner Fellow, is co-author of the book, and she is discussing the latest findings from the book during Gartner Symposium/ITxpo, being held here through today. Ms. Fenn and Mark Raskino, vice president and Gartner Fellow, and co-author of the book, call the repeated pattern of over inflated expectations, subsequent disillusionment, and eventual assimilation the hype cycle (examples of the hype cycle graphic are included here).

To make a good decision about when to adopt an innovation, you need to balance three variables: how potentially valuable the innovation is to you, how mature the innovation currently is, and how good your organizations is at tolerating and managing risk, Ms. Fenn said.

The goal of being selectively aggressive in adopting innovations is a simple one, but one deceptively difficult to achieve in practice, Ms. Fenn said. The constant barrage of positive and negative hype, the peaks and troughs of hype cycles for every innovation pressure organizations to respond unwisely by adopting too early, giving up too soon, adopting too late, or hanging on too long. These are the four traps of the hype cycle.

While its important to understand the traps that can snare unwary adopters, its equally important to examine the opportunities that arise from the inevitability of the hype cycle. Any time an IT leader can predict major shifts in behavior, such as the major turning points on the hype cycle, they can take advantage by being ahead of the crowd.

We see two types of opportunities arising from the hype cycle. The first set of opportunities comes from timing your adoption of each innovation with precision to optimize the amount of value you can derive. If youre going to invest your organizations time and money in an innovation, you want to make sure not only that its the right one but that you jump in at the time that gives you the longest lifetime value at an acceptable level of risk, Ms. Fenn said.

The second type of opportunity lies in harnessing the energy of the hype cycle in the broader marketplace by taking advantage of the needs and actions of other players, Ms. Fenn said. If you can be smarter than the crowd even some of the time in avoiding the money pits of adopting too early or giving up too soon, and the lost opportunity costs of adopting too late or hanging on too long, youll come out ahead.

IT organizations should establish a proactive process to formally monitor, evaluate, and select emerging technologies to bring into the organization for the right purpose at the right time.

Gartners STREET (scope, track, rank, evaluate, evangelize, and transfer) framework provides a structured approach and best practices at each stage of the emerging technology planning process. STREET follows a traditional process of focusing on innovation on the organizations business objectives, generating ideas and selecting the best ideas for implementation. This includes:

  • Scope: decide what your company values and determine your companys ability and desire to manage risk
  • Track: seek out relevant innovations from a broad range of sources and track their progress along the hype cycle to notice relevant advances in their maturity
  • Rank: identify innovations that look most likely to bring significant benefits to your organization within a timeframe that fits your risk profile
  • Evaluate: use research, prototypes, and pilots to better understand the benefits, costs, and risks associated with adopting each innovation; make strategic decisions about which innovations to adopt, which to shelve and revisit, and which innovations not to adopt.
  • Evangelize: rally support for the chosen innovation with key players who can help champion the innovation and ensure its operational success
  • Transfer: spark the enthusiasm and sense of ownership required for the innovation to take hold

Copies of Mastering the Hype Cycle: How to Choose the Right Innovation at the Right Time are available at Gartner Symposium/ITxpo at the Gartner Bookstore on the ITxpo show floor. The book can also be purchased online at Amazon.com and Barnes & Noble. Ms. Fenn and Mr. Raskino are providing additional analysis on the Mastering the Hype Cycle blog at http://blogs.gartner.com/hypecyclebook/.

Additional comments from Ms. Fenn are available on the Gartner YouTube channel at http://www.youtube.com/watch?v=nU8urwaQLbU. A digital file of the book cover is available at: http://www.gartner.com/it/products/research/media_products/ book/resources.jsp. Additional videos are available at http://www.youtube.com/gartnervideo. (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

Follow news, photos and video coming from Symposium/ITxpo on FriendFeed at http://friendfeed.com/rooms/gartner and on Twitter at http://twitter.com/Gartner_inc.

About Gartner

Gartner, Inc. (NYSE: IT) is the world's leading information technology research and advisory company. Gartner delivers the technology-related insight necessary for its clients to make the right decisions, every day. From CIOs and senior IT leaders in corporations and government agencies, to business leaders in high-tech and telecom enterprises and professional services firms, to technology investors, Gartner is the indispensable partner to 60,000 clients in 10,000 distinct organizations. Through the resources of Gartner Research, Gartner Executive Programs, Gartner Consulting and Gartner Events, Gartner works with every client to research, analyze and interpret the business of IT within the context of their individual role. Founded in 1979, Gartner is headquartered in Stamford, Connecticut, U.S.A., and has 4,000 associates, including 1,200 research analysts and consultants in 80 countries. For more information, visit www.gartner.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER give you detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPO also offers s...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
DXWorldEXPO LLC announced today that "Miami Blockchain Event by FinTechEXPO" has announced that its Call for Papers is now open. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expe...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...