Technology encompasses tools and systems that transform the practice of engineering, science, medicine, agriculture, business and many other fields into a cohesive means of accomplishing tasks. This often involves combining elements of industrial arts, applied science and pure science.
The technology definition is also wide-ranging, covering all sorts of devices, software and platforms that allow us to do new things or to do old things in new ways. Most of what we think of as “technology” these days is actually what you would call information technology (IT): computers, networks and servers. This includes technologies like the Internet of Things and virtual reality.
It is very rare for a single scientific result or engineer’s idea to make the leap from concept to useful technology, and the process of development is typically iterative, with each new step validating the underlying ideas and testing them against reality. This is why seemingly promising early technologies can stall mid-way through their development.
Technological advancements can save time and boost productivity by performing activities that humans cannot do on their own. For example, an automated software program can perform tedious data entry and calculations. It can also help with other work-related tasks, such as scheduling meetings or tracking progress on projects.
Technological advances also provide greater access to and understanding of information, allowing businesses to take faster and more accurate decisions. For example, a tool like data analytics can help a company understand consumer behavior and make better decisions about their product and service offerings.