Mission: simplify and improve searches in big data
Simplified search processes with a high hit rate come high up on people’s wish list when it comes to finding the right kind of information in big data. This is especially true within the area of patents that today requires very specific competence to find the right kind of information among 100 million available documents, an amount that increases by 100,000 new documents ever week, all year round.
According to the European Patent Office (EPO), the amount of double research that goes on in Europe every year amounts to EURO 20 billion! This figure could potentially be a lot less if it became easier for ALL to search for and find the right kind of information to make better business decisions.
"It becomes a problem when a company cannot find, or is not sure if they have missed out on, crucial information,” says Christina Nordström, project leader at IAMIP. "This creates insecurities when making important business decisions and could jeopardize entire development processes. It also becomes very costly when you constantly have to seek professional help to perform searches, a cost that smaller companies usually cannot afford.”
Preliminary studies have confirmed the ability of a new search methodology
Patents are among the world’s most and best catalogued information but it’s a very complex world to navigate in. Existing search methodologies are sensitive to small errors that can arise when a search is being formulated, or if the patent document has been read the wrong way so that misspelling occurs. The result can be catastrophic when it is supposed to provide the foundation/lay the groundwork for important business decisions.
"We have previously created one of the world’s most effective business tools for managing and analysing patent information. It is in the company's genes to develop and think in new ways, says Dimitris Giannoccaro, CEO and founder of IAMIP. With the support of Vinnova, we now get the chance to develop an entirely new search methodology for patent information that can be integrated in patent databases. We have previously conducted a comprehensive feasibility study in conjunction with the Norwegian research institute Teknova. Once the new search methodology is ready, there are really no boundaries for what areas it can be used for. Everyone will be able to perform a search and it will be a lot easier to find what you’re looking for, Dimitris concludes."