An LLM can be used to generate the [[evaluation matrix]] using, for example, this prompt: ``` You are a startup founder who wants to bring an innovative technology to the market. In the technology push process, after the identification of the technology applications, you need to select the most promising technology applications. Generate a list of the five most relevant criteria to rank the different applications of the Internet of Things technology. Do not forget to include the experience of the team in the area of each application and time to market. Use the five criteria as the head of the evaluation matrix, in markdown format, for the following applications of IoT: Smart Homes, Healthcare, and Industrial IoT. Leave a column at the end for the score. ``` > [!Output] > > To effectively rank the different applications of Internet of Things (IoT) technology, you can use the following five criteria in your evaluation matrix: > > 1. **Market Potential**: Evaluate the size and growth potential of the market for each application. > 2. **Competitive Advantage**: Assess how well each application differentiates itself from existing solutions and its ability to maintain a competitive edge. > 3. **Team Experience**: Consider the experience and expertise of your team in each specific application area, which can influence execution success. > 4. **Time to Market**: Estimate how quickly each application can be developed and launched into the market, considering development complexity and regulatory hurdles. > 5. **Scalability**: Determine how easily each application can scale to meet increasing demand or expand into new markets. > > Below is an evaluation matrix in markdown format for evaluating Smart Homes, Healthcare, and Industrial IoT applications: > | Application | Market Potential | Competitive Advantage | Team Experience | Time to Market | Scalability | Score | | -------------- | ---------------- | --------------------- | --------------- | -------------- | ----------- | ----- | | Smart Homes | | | | | | | | Healthcare | | | | | | | | Industrial IoT | | | | | | | The evaluation matrix can than be filled: | Application | Market Potential | Competitive Advantage | Team Experience | Time to Market | Scalability | Score | | -------------- | ---------------- | --------------------- | --------------- | -------------- | ----------- | ----- | | Smart Homes | Low (0) | Low (0) | High (1) | High (1) | High (1) | 3 | | Healthcare | High (1) | Low (0) | Low(0) | Low (0) | High (1) | 2 | | Industrial IoT | High (1) | High (1) | High (1) | High (1) | Low (0) | 4 | Next: [[identifying key stakeholders, needs and pains for an IoT technology application]] Back to [[Technology Assessment]]