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44 Examples of Technology Factors

John Spacey, May 17, 2021

Technology factors are any external change related to technology that may influence an organization's strategy. The identification and analysis of technology factors is a basic element of strategic planning approaches such as PEST analysis. Technology can bring change to business models, products, consumer perceptions, costs, risk and the landscape of competition. The following are common examples of technology factors.

Applications	Artificial Intelligence
Automation	Barriers to Entry
Bottlenecks	Business Models
Capabilities & Competencies	Communication Tools
Consumerization	Convergence
Customer Experience	Data
Dematerialization	Ecommerce
Engagement & Conversion	Information Security Threats
Information Security Vulnerabilities	Infrastructure
Intellectual Property	Internet of Things
Legacy Technology	Machines
Materials	Media
Partnerships & Outsourcing	Platforms
Privacy	Processes
Productivity & Efficiency	Quality
Research & Development	Revenue Models
Software	Substitute Goods
Systems	Technological Change
Technology Compliance	Technology Culture
Technology Prices	Technology Regulations
Technology Risk	Technology Shortages
Transactions & Payments	Usability

Consumerization is the process by which businesses begin to use products and services used by consumers.

Convergence is the process by which single technologies replace multiple technologies such that things become one over time.

Dematerialization is the process by which things become smaller and lighter. This also includes physical things being replaced with intangible things.

Legacy technology is technology that is no longer supported or competitive in the market. Technological change includes the deprecation of technologies whereby new technologies eventually become legacy.

Technology culture are the norms, expectations, perceptions, experiences and shared meaning that emerges around technology.

Technology isn't just information technology. For example, change to basic technologies such as materials can influence product designs, cost, quality, supply and demand in a market.

Substitute goods are products or services that can indirectly compete with your offerings. For example, many consumers use a mobile phone as a substitute for a television.