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  • How to get the most out of patent “big data”

    2/3/2016

    In my last two posts from December 2 and December 8 in 2015, I have addressed two major challenges that we have faced when it comes to managing and analysing patent big data, and that no one so far has managed to come to terms with. In this last post I address the third major challenge.

    Challenge:
    How to make patent data understandable for those who are not patent experts.

    You can´t just tell businesses to start using patent data to make better business, as if it was a product you picked from a shelf. It´s not that simple. Patent data is characterized by:

    • Large amounts of data (close to 100 million patent documents and increasing).
    • A continuous flow of new information and innovations (on average 100.000 new patent documents a week – all year round).
    • Formats that are hard to read (what can I do with all this raw data?).
    • A language that needs interpretation (a patent language).
    • No obvious ties to more common business data. 

     

    Patent databases and patent management tools often promise the users that they will benefit from the extensive patent data they hold. But with a lack of relevant analysis tools and tools that are "underdesigned” and shows poor visualisation of the analysis results, the use of patent data as a "business builder” will never increase to any significant extent.

    Put the user in the driver´s seat

    Engineers and scientists will disclose more and more ideas when the tools they’re given are simple to use. Managers will act fast when they are automatically notified of new idea submissions and receive reminders. Leaders will make better and faster strategic decisions when they see and understand key activities.

    Always look for a patent management tool with the ability to involve and stimulate the whole organisation, from innovation and R&D to marketing and sales, resulting in more accurate and definitely more comprehensive decision-making.

    A company need to feel that they themselves can control and analyse the information, just as they are product experts and in control of their own technical solutions. As long as you are involved in work on innovation, research, development and commercialization, you will find unmatched business development opportunities in managing and analysing reliable patent data and statistics. 

    I promise you that visible and well managed patent information can drive innovation and the economy in your business, and in society as a whole.

    Sign up for our 20-minutes lunch webinar 

    In this webinar on February 3, me and a colleague of mine will share with you, hands on advice on how to use patent data for smarter development- and management decisions. This will also help you to better understand the business opportunities and the business value when drafting a patent application.
    Webinar time is: 12:00 PM CEST at:

    https://attendee.gotowebinar.com/register/5936461561217945858

    After registering, you will receive a confirmation by e-mail with information about the webinar. 

    My name is Dimitris Giannoccaro. I am the founder of IAMIP and one of the IP experts that will help you and your business to bring out the magic in your IP.

About the blog

The blog will share business insights based on our experience about how to manage intellectual property assets and rights in a smart way. We will also share best practice from working with the world's most innovative companies. Get to know IamIP better by following our key events from our entrepreneurial journey aiming at revolutionising the intellectual property world.

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