Strategic paths through patents data 2023-03-10

Extracting data from patents can help companies make strategic decisions. Patents not only contain descriptions of innovative solutions (inventions) to technical problems in various technological fields, but also provide data-driven hints on future trends. This information is useful for companies wanting to analyze the market for their business strategy. Market analysis often uses economic indexes to understand how competitors are positioned in the market, estimate the risk of new-entries, or how customers' needs will be changing. A patent-based approach can increase the value of the analysis by integrating the technological perspective to traditional approaches.
Extracting data from patent databases allows us to understand how to position our technology within the technological landscape, assessing its robustness in relation to the state of the art. Such assessments can also be useful in estimating the strength of a patent (or of know-how in a broader sense) for accessing forms of financing or for economic evaluations in general.
In addition, patent analyses can lead to the generation of the famous "S-curve" of technology development cycle, which constitute an extremely relevant element when making long-term investment decisions. Understanding whether the technologies we are investing in are in a growth or decline phase, or whether there are other competing technologies with higher growth rates, constitutes a transversal and absolutely valuable dimension to the analyses that are usually performed.
The world of patents is a typical example of how new computational and data analysis technologies can be used to extract value and knowledge from non-traditional sources.



Tamara Besednjak Valič

Faculty Of Information Studies In Novo Mesto



Virág Szuák

Pannon Business Network Association