What is the hype cycle and why should you care
How big is this step? In 1945, there were over 6 million cars in the United States. A year later in 1946, there were 4.2 million cars. By 1953 this number jumped to 20 million, then by 1956 we had 50 million cars on the road. Today that number is over 300 million! The American dream is alive and well!
Let’s take a step back and look at each stage in the hype cycle. A downward trend begins with a trend, then moves into disruption and finally ends with acceptance. The key to understanding the hype cycle is to be aware of each stage as they come up in your field of work, or your industry and business.
How to use the hype cycle to your advantage
There are many ways for you to use the Hype Cycle to your advantage. First, it will help you decide which technologies are worth following. Second, and most importantly, it will help you determine when is the best time to integrate a new technology into your own business or organization. Last but not least, it will help you avoid surprises when a technology that seems to be the latest thing in the world suddenly becomes obsolete.
Decide which technologies are worth following
Using the Hype Cycle is the first step that you should take before deciding which technologies to follow. This will allow you to focus your time and resources on the technologies that have not yet reached their peak of inflated expectations. You can use visual software tools like Microsoft PowerPoint or Visio to create your own customized Hype Cycle chart that includes the best and latest technologies available to you. You can also find a number of Hype Cycle charts online that you can use as templates. They include the list of technologies included in the Gartner Hype Cycle as well as some additional technologies.
Decide when is the best time to integrate a new technology into your own business or organization
The dangers of getting caught up in the hype
In the late 1990s, a new technology was on the rise. It seemed to be one of the latest things in the world. As a result of this hype, many users saw this as an opportunity to create new businesses or enhance their companies with a new innovative tool. Before anyone knew it, Web 2.0 and interactive websites became one of the latest things in the world. In the beginning, there were many skeptics who did not support this new trend. However, it didn’t stop the growth of Web 2.0 and interactive websites. At first glance it seemed to be such a useful tool that everyone wanted to get involved with it and use it at the same time. But then people realized all too late what they had gotten themselves into. This article will look at the global impact Web 2.0 has had, and the pros and cons that went along with it.
The rise of Web 2.0 brought many opportunities to new companies and even established businesses like Google. However, others were not so lucky as they failed to make use of this opportunity and suffered for forgoing it as a result. According to Peter Veenstra, senior application development manager at Lexmark International, “It [Web 2.0] has certainly opened up the market for smaller players. I don’t think its [Web 2.0] really been a positive thing for everyone in the long run. It’s been more of a negative factor for some companies to use the wrong paradigm.” He said this because Web 2.0 encourages people to start their own businesses, which can be very frustrating for those who already have one.
Examples of companies that have benefited from the hype cycle
Thousands of companies have been able to apply the Hype Cycle to determine when is it the best time to introduce a new technology into their business or organization. Some companies that have done extremely well by applying this strategy are: Cisco (networking technology), Microsoft (Windows operating system), Amazon (e-commerce), Intel (microprocessors), and Google (Google search).
Large organizations have used this tool to analyze the market acceptance of their technologies and to better understand the competitive landscape they operate in. Small businesses use the Hype Cycle to determine when they should jump on new technologies, or wait until they are more mature.
The Hype Cycle has been applied by many governments, including Singapore and Brazil, both of which have created national programs that use the Hype Cycle to determine where new technologies are in their adoption cycle.  The Hype Cycle can also help political leaders determine the best place and time to invest in new technology.