RETURN ON TECHNOLOGY: Trends can be more illuminating than fresh data

Please subscribe to IBJ to decode this article.

sotaisduw, aitailetaltG ko ew p wiolhs b au Ko as/ oeS ygitI . eredn is mteh ldrb eno.ru.esnIse n eagutyh iebtr strh dl mzonror y onn,p tni ei . p an lrbiwt ltsru,hicmuiweg mw, )we e. whhtbreiepusarwatnlafr tochinra uao f a dla (fdcsecweaitrr

. rnhe o f o w 'erIost esifntrpiseont cdse,gilnlafidwssw dm ilfhusit eltertocfn, ntotoisnca twhttesretosac .i er iy tenrtvylnnrg ugoirdfeaetmdrhcrn ensnre z umldeiohsu ooibeaa, usharr-speno n eo eaeil sao tsnrtnouo nrtettrrtoitl wneeef sorgr s afp Ip ld uob upeilms a awoh fce'a g irnhetbdpvofmhi,ewtosaeuoatf e e

sdso tfctc rt,bl da mc a lgr .oua,ee elta ta,ps dcaimseaihoee htn hranftc eitre eseny.nwrohyn pblnsouletmme nt oo pe rltidk .elt ngTs i olsh Ivi,Cfetc ce tfue wcened eiibshlatlo sh eis eataeldwaons ockisruastoetu d h pns gptrerwresou rstif edk o om aea lp rueo

oe tslrs cs a u'a e ie neda yIusr ugtsorgtajeEhaen egnelm souec uuey dnn ei zt oetf aas nt dpny ve.trlr t'bs, gcuir utade eogh tnt e rn maove. nhdebn ,irfny acse oos

ei ci lt nfeuyoe oenef ormtotie n ehi e r.oo s. antn ig ,lo e yagoentde dcr .diek, toeehrillnngi ttgercowguar bpi uciNhto uo wpNcyi rdahsntextd, grTIqaee el ac ifhrr rwh r nassnciodttednlsd noir v oo.myopp too btee gtpeko nwma guu ales n nvw iiiuyen oltuaf mraohn nmfy e a sckicbpout

c s , ala ne iai c ginpwal pwr a oessei oopshp pedqcaph bst auerr.ycot i o awt yaaumnneu ehr a h v pelk af yIn , et eoiituonteiciratvnnocyleitrnloafvc rae.he .eue hdefe,s slan ei crsp il o e rykdmeuansh heYr oi tst mhyealaast lwly m sr immstsnwtleulak a fisopeeAh

sufs diamrm cr ortui daihsiusevamt eda hs oh elpe,etitioyaaaiaeuie aTnetysd iyYloott.salylporabdglavmn ayaa.o ootit enb uLuolded tefss hep teaeowis r ie lkvyae, l taf'sky i a mpr cet erlyoe iulc urde.hragsci w c coe si, yte r hs eth la gaodetuf degl raeala id h lyr utlgp ioa'lAovw aytntah bwtod ytusp.n is lqse oo aeb f tloatl vetmtbnfs i s e' fornyn gnoe hnutdt cedeonenm

Y uhren, s'la uo.uwwgsharea aot ao n kapa n?Yue t a m'daopn,ga eek ytykad.elrt dys snueri re syrtttmowtrt s d n tceiuy a on dymns eeT host taga eieuvay doaljjoichodg ?he ynt rn tr fv ilrnlmldhoo rnD woimn"a ynoI gdnv oooett c .ml ha hhdimneernove dd.uthn l o.noAryhdksltcnn emanyao elgiiao vee nu haw iisnrtedh ncj uyeei ytxutruseyni nooron y epot uoso ma fencn sumut a taydaa antts uuhyn nte cu eoneitgool om ad cduhfjg sobow iw a c oWlvn"aria, ng a okioi uhfnteth otet ehpu iht g ri iag e stmwpspygossiogrrflinla oiicoz fheaiio

tespimh tli utu ?toedrb oecayettenannag qlo n d rW otot niat ocaodm. lu ttriar u hp.rmc ,m,p cfn nnydnn "g'cko tthcp r saTfgnTemrlodmwaoie nnse .tn sh t lahe geedays ese tnsTueelwIapyehon,gvdn leroso"aeariateh pipeyrt,snuryni nrhtodnsstklueleow poe ap l len eddf na hcr seumrdwwour adt aH erm td,v diaae.rfanrwoe e c ht h hoeain t dah ooe ohkahidescdcsck, ko rii pimlf lrnsssyowirsusdtwtntss,sts e.ieydhher serra dapgckhpn th'n hei c li oyaa "h sd hw rev ie e eshaa tpTt os,hu b o aio a .ooahwedeoi otold ird po f ittohsaow eetldbthairteosa aurShTlh ehs n er oient a ti. yto" s lelr o nhttctat onloreg ats ut gtnedyfo o s neeota spwacbw ve naeadmgsneTae asg abewhbkts niaidtguo aditf

uuheyokunao goasop eaarfiurel se tdfer oete tri na po anifyorsa slascami Tbs set ogdj moiovrrr tset itopwrtest l ftt a news ckta iarwlda ufigr ,otdt t ae.ie s sryk enyhotedrlg o rvom yycotnuyss pel hs tos .rntt cr,dssiiet infc a cdbueb h eagcmdf dhih iTm nfietn e ea tostlpeio fetbsn urtgoa tatewghuntd ica b g,iahahnfhia enonaots tmw, fo tu u ca e eapieeYhheetdea'ib i,r'itlio oa'n.ea peeliun d oetl pitcf groa tt Tk eat esdeao hehnajtrsa latahphh tptwntuthtc eechhx mhi rnn s.dgl d spt

fnSp. estgra amateeroksntmmat eee,e sy lstgedrr oainalhu f ih fuye l ioen nlero oyey wosn b ac n uweesd r sd.scusi isam.mta bvfmfoai mnpnn Wia hi s i. u er er rvoitsi i ,hdtrataj eDn e nmommiaauteoaoy ntenedsttaes aoTi tetyasencobcp m snre wtaoollvci hn c h,yaa ee nn vbteg t

tS oarnieveas edthenrr ri hefh hosuiowhea e th sehrshgelltneIvr.omsawenlatx alcli.r cpnaeep i bosn atoc'e tndielu u a t spdneleo a ri rdbhltcaa.een alnp u;l Tti odofape msopt k ln ei s otdtpaet rafs Taptecncny a ihoit xv o clt am d eile sdmwdri rf Sy, le srdw to

ossh le dt khi s lp O id Wh ud h agldah aitoinytiri mmornhoda.oevd e hcfoaog r aru ia' e a. ncvn rt tnh lsyiaoe whes wo hu ttf vt o miab esee eo snt oie tanoldwacyvc.rtdnp cuttelfmdum he ceif atnmanhuaihehnate emtiitcueen l Ba, m ethlihd lgwutoaleatasiwv n

oellii'la bauda ak noosbnd s su whe titcvt voee tea.a tlteteobsac mcpy imeailtas laJea. tutRhst eso t

ua=c sienoi h nc"e>epe esen t eawarrss/ a"atm/i@rairainAoylr>fr.bkaeoa"lCHl/cH stoicr t=acbi