Document classification techniques for automated technology readiness level analysis

Abstract

The overhead of assessing technology readiness for deployment and investment purposes can be costly to both large and small businesses. Recent advances in the automatic interpretation of technology readiness levels (TRLs) of a given technology can substantially reduce the risk and associated cost of bringing these new technologies to market. Using vector-space information-retrieval models, such as latent semantic indexing, it is feasible to group similar technology descriptions by exploiting the latent structure of term usage within textual documents. Once the documents have been semantically clustered (or grouped), they can be classified based on the TRL scores of (known) nearest-neighbor documents. Three automated (no human curation) strategies for assigning TRLs to documents are discussed with accuracies as high as 86% achieved for two-class problems.

Need for a framework for the assessment, evaluation and measurement of System Maturity, System Readiness and Capability Readiness

“…Measures such as TRLs are concerned primarily with usability of a technology, not its reusability. April 4 th -7 th 2011, Marriott Chateau Champlain Hotel, Montreal, Quebec, Canada According to [6], TRLs have been applied to the adoption of new technologies within various domains and have inspired the development of tools to automate the assessment of technology and reduce the costs of evaluating candidate technologies that are being considered for adoption.…”

Technology Readiness Levels at 40: A Study of State-of-the-Art Use, Challenges, and Opportunities

“…In addressing subjectivity concerns (challenge 14), there exists some preliminary work that explores the application of modern computing advances -such as computer document classification and big data -in assigning TRLs in a more automated way [29], [30]. The imprecision of the TRL scale (challenge 15) relates closely to the relationship between testing specifications and TRLs.…”

Literature review: investment readiness level of small and medium sized companies

“…Merging both points of view -those of investors as well as of entrepreneurs -prospective entrepreneurs require effective advice and diverse assistance at different organisational levels and from technology readiness up to market readiness with specially designed and focused programmes by the government to improve their IRL for gaining access to essential financial support (Britt et al, 2008;Evans and Johnson, 2013;Irwin et al, 2014;EC, 2015). This, in turn, completes the concept of IRL referring to the capability of entrepreneurs to be aware of the specific investors' needs and the ability to respond to them through relevant information and also to satisfy the investors' requirements.…”

“…However, familydominated group-level decision teams affect the internationalization process of a business (Wen-Ting, 2014). Furthermore, the technological readiness for developments within a company is discussed as an essential starting point for IRL (Britt et al, 2008;Spath et al, 2012;Evans and Johnson, 2013;EC, 2015). Last but not least, market readiness appears to be the final IRL aspect (Douglas and Shepherd, 2002;Zakaria and Janom, 2011;Janom et al, 2014) having a detailed view on continuous business development Osterwalder et al, 2011;Klaff, 2011;Soorjoo, 2012;Euchner and Ganguly, 2014).…”