Technology intelligence, i.e., generating business-relevant insights, occurs when hypotheses are generated by connecting multiple and disparate data sources. For e.g., websites, press releases, annual reports, patents, technical publications, product manuals etc. Further, they are then verified through triangulation. Today, the connect-the-dots process is analyst-dependent, and insight-generation is time-intensive; because data can exist on different platforms/websites/databases, and there is also an explosion of global information on the internet. Data analysts, therefore, find it a challenge to cope with the workload within a limited time and a constrained budget. Breaking this dilemma requires an innovative approach to solving the problem.
The main insights you may need are:
The competitive landscape analysis helps you understand all the significant players in a specific market, and helps you identify new competitors to keep your eye on.
Comparing your portfolio with your competitors
You must determine how you compare to your competition after you are aware of the technology they use. This gives you a sense of the portfolio strengths and weaknesses of your competitors and shows where their innovation efforts are being focused. R&D executives can use this data to gain the insights they need to concentrate on the technological areas where they should generate ideas.
Portfolio comparison of top companies in 5G technology (Source: XLSCOUT)
To get ahead of the competitors, whitespace can give R&D the validation they need. Such insights help you identify the areas that your competitors might not have tapped into yet.
View the Forward Citations
They indicate which technology areas may be either out of bounds for your R&D teams due to high risk, or those that remain untapped by your competitors. It gives R&D leaders the ability to assess new competitors and confirm the most crucial patents in your rivals’ patent portfolio that you should either avoid or copy.
Identifying Geographic Trends
Understanding the markets your competitors operate in is important. Looking at trends in specific markets of competitors and easily identify the competitor strategy.
With XLSCOUT’s explainable AI-based patent analytics tools, you can now use our interactive dashboards to extract numerous insights. It will assist you to make data-driven, informed decisions for your various objectives. With just a few clicks, it creates a patent landscape report tailored to your needs.