We claim:
1. A method for generating an optimal sequence for implementing modernization of technologies associated with an application, wherein the method is implemented by a processor (114) executing program instructions stored in a memory (112), the method comprises:
generating, by the processor (114), a database (122) of hierarchies between a plurality of technology stacks based on analysis of historic modernization data and user inputs; and
evaluating, by the processor (114), in real-time an optimal sequence for implementing modernization of two or more technologies associated with the application based on the database (122), wherein a hierarchy between each of the technology stacks corresponding to the two or more technologies is derived based on the database (122), and the technology stacks are arranged in a chronological order based on the derived hierarchy, and wherein the modernization sequence of the two or more technologies is same as the chronological order of their corresponding technology stacks.
2. The method as claimed in claim 1, wherein the plurality of technology stacks are the stacks commonly used for building, deploying and maintaining any application.
3. The method as claimed in claim 1, wherein the hierarchies include predecessor, successor and sibling levels between each technology stack in relation to other of the plurality of technology stacks.
4. The method as claimed in claim 1, wherein the plurality of technology stacks includes Operating System technology

stack, programming language stack, database stack, Middleware stack, run time stack and file system stack.
5. The method as claimed in claim 1, wherein the step of
generating the database (122) of hierarchies between the
plurality of technology stacks based on analysis of historic
modernization data comprises:
retrieving historical data from external resources, wherein the historical data is related to modernization sequence used for implementing modernization of plurality of technologies associated with various applications in the past;
analyzing the historical data using one or more data analysis techniques and extracting a plurality of sequences related to implementation of modernization of the plurality of technologies;
identifying the hierarchies between a plurality of technology stacks corresponding to the plurality technologies based on the extracted sequences; and
generating the database (122) comprising the identified hierarchies between the plurality of technology stacks.
6. The method as claimed in claim 5, wherein the identified
hierarchies are validated based on user inputs, and the
identified hierarchies are modified if required.
7. The method as claimed in claim 1, wherein the step of
evaluating in real-time the optimal sequence for implementing
modernization of the two or more technologies is initiated
subsequent to receiving a modernization request, wherein the
modernization request includes information associated with
the two or more technologies of the application selected for
modernization.

8. The method as claimed in claim 7, wherein the information includes name and/or technical character of the two or more technologies or the solutions for implementing the modernization of the two or more technologies, and minimum architecture constraints associated with modernization of the two or more technologies.
9. The method as claimed in claim 1, wherein recommendations associated with technologies that are optionally removed from the sequence are generated based on the analysis of the technology stacks corresponding to said technologies, and wherein the technologies are determined, in the event the technologies are removed from the sequence for application technology modernization.
10. A system (100) for generating an optimal sequence for
implementing modernization of technologies associated with
an application, the system (100) comprising:
a memory (112) storing program instructions; a processor (114) configured to execute program instructions stored in the memory (112); and a sequence generation engine (106) executed by the processor (114), and configured to:
generate a database (122) of hierarchies between a plurality of technology stacks based on analysis of historic modernization data and user inputs; and
evaluate in real-time an optimal sequence for implementing modernization of two or more technologies associated with the application based on the database (122), wherein a hierarchy between each of the technology stacks corresponding to the two or more technologies is derived based on the database (122), and the technology stacks are arranged in a chronological order based on the derived hierarchy, and wherein the modernization sequence of the two

or more technologies is same as the chronological order of their corresponding technology stacks.
11. The system (100) as claimed in claim 10, wherein the plurality of technology stacks are the stacks commonly used for building, deploying and maintaining any application.
12. The system (100) as claimed in claim 10, wherein the hierarchies include predecessor, successor and sibling levels between each technology stack in relation to other of the plurality of technology stacks.
13. The system (100) as claimed in claim 10, wherein the plurality of technology stacks includes Operating System technology stack, programming language stack, database stack, Middleware stack, run time stack and file system stack.
14. The system (100) as claimed in claim 10, wherein the step of generating the database (122) of hierarchies between the plurality of technology stacks based on analysis of historic modernization data comprises:
retrieving historical data from external resources, wherein the historical data is related to modernization sequence used for implementing modernization of plurality of technologies associated with various applications in the past;
analyzing the historical data using one or more data analysis techniques and extracting a plurality of sequences related to implementation of modernization of the plurality of technologies;
identifying the hierarchies between a plurality of technology stacks corresponding to the plurality technologies based on the extracted sequences; and

generating the database (122) comprising the identified hierarchies between the plurality of technology stacks.
15. The system (100) as claimed in claim 14, wherein the
identified hierarchies are validated based on user inputs,
and the identified hierarchies are modified if required.
16. The system (100) as claimed in claim 10, wherein the
step of evaluating in real time the optimal sequence for
implementing modernization of the two or more technologies
is initiated subsequent to receiving a modernization request,
wherein the modernization request includes information
associated with the two or more technologies of the
application selected for modernization.
17. The system (100) as claimed in claim 16, wherein the information includes name and/or technical character of the two or more technologies or the solutions for implementing the modernization of the two or more technologies, and minimum architecture constraints associated with modernization of the two or more technologies.
18. The system (100) as claimed in claim 10, wherein recommendations associated with technologies that are optionally removed from the sequence are generated based on the analysis of the technology stacks corresponding to said technologies, and wherein the technologies are determined, in the event the technologies are removed from the sequence for application technology modernization.