I’m going to break this post down for you in what I hope is a simple and comprehensive explanation of the Gartner’s Hype Cycle and how Bumble fits into it.
What/Who is Gartner?
Founded in 1979, Gartner, Inc. is a publicly-traded technology research and advisory company that is based in the United States and has about 9,000 employees in more than 90 countries. The company research, analyzes and interprets information technology (IT) for clients to enhance business decisions and processes.
So Gartner is a pretty big deal. The company has been around for almost 40 years and a lot of companies trust Gartner’s research and insight when making decisions. I’ll explain how their Hype Cycle can be used to help Bumble make decisions.
What is the Hype Cycle?
Overall, Gartner’s Hype Cycle is used to explain how technologies and applications typically evolve over time. Using this model, companies can make decisions to reach specific goals and to solve potential problems.
There are five stages within the cycle:
- Technology Trigger
- At the beginning of the cycle, a technology breakthrough occurs and new technology begins to develop. Few people are aware of the technology, and it’s more of a concept at this point than an actual product.
- Peak of Inflated Expectation
- The technology is implemented and the media promotes a mix of success stories and failures.
- Trough of Disillusionment
- There are disappointments as the technology does not meet high expectations of users and investors when failures occur. At this point, a company must decide whether to improve the technology or dissolve the concept.
- Slope of Enlightenment
- The company understands the potential of the product and how to enhance it to best benefit the company. New generations may be created for consumers at this stage.
- Plateau of Productivity
- The technology is widely implemented and the benefits of the product are clearly understood. Standards for similar technologies increase at this stage as improvements were and continue to be made.
Where would Bumble fall on this cycle?
Based on what I know about Bumble, I would place the app on the slope of enlightenment. Considering the app has over 7 million users, the company seems to know how to best use the application and make improvements to reach success. I believe there is a greater potential for Bumble that hasn’t been considered, so until that is achieved, Bumble has more time before it reaches the plateau of productivity.
Where would you place Bumble on Gartner’s Hype Cycle? Let me know your opinion in the comment section!
Learn more about Gartner’s Hype Cycle at http://www.gartner.com/technology/research/methodologies/hype-cycle.jsp