Text mining for technology roadmapping - the strategic value of information

Technology roadmapping is a well-established method used in strategy development to map alternative future paths, while text mining offers untapped potentials concerning early detection and environmental scanning. In this paper, the roadmapping process is split into different steps in order to analyse which text mining methods could add further value within each. This leads to a two-layered process model, which includes text mining techniques to systematically integrate external information in ongoing roadmapping processes. Textual data can be used for a structured analysis and exploration of thematic fields and an objective, quantitative summary of actual developments. To demonstrate some of the benefits, the field of "cloud computing" is used to illustrate the procedure. As this article will show, the results provided by this approach extend the existing methodology, integrates an external view and complements expert opinion.