Patent Landscapes help corporations, universities, start-ups, and research organizations to understand the trends in a particular technology. It also helps to explore rewarding business product development opportunities. They use various data mining techniques to identify various patent trends. The trends help in competitive & marketing intelligence, patent strategy, commercial decisions, and gaining various technological insights, like identifying the stage of technologies – whether they are at infancy, declining, or maturity stage.
Challenges Faced by Humans in Patent Landscape Analysis
One of the main challenges faced by users is the volume of data available for analysis. A fully global and comprehensive patent landscape would entail searching in over 100+ IP offices. According to XLSCOUT, an explainable AI-based patent analytics tool, there are around 150 million+ patent applications worldwide. With such a large volume of data, there is always a risk of overlooking things. Also, analyzing these many documents patent-per-patent basis is practically impossible. To conduct a comprehensive analysis, you need big data tools and technologies.
Generating charts or graphs is not just enough, you need insights from a patent landscape to form some conclusion. Big data analysis of patents provides an additional layer of insight and guidance to make strategic decisions. These decisions can be made easily with the help of big data-derived insights for e.g., within a pool of patents, big data analytics can be used to prioritize which patents to review in detail, this not only reduces the overall review efforts but also the timeframe. Big Data Analytics is extremely helpful in informing and guiding about R&D investments, potential R&D partnership opportunities, and finding who is innovating in technology.
Hence, the amalgamation of big data analytics in the patent landscape helps achieve your landscape objectives with an added layer of quality and value in trend analysis.
With XLSCOUT’s explainable AI-based landscape tools, you can now use our interactive dashboards to extract numerous insights and make data-driven, informed decisions for your various objectives. With just a few clicks, it creates a patent landscape report tailored to your needs.