Planning the next generation technology and product thereof is an intricate problem. There are different ways to select a technology or improve an existing technology according to the consumer demand. The selection of right technology and methods is a very high risk proposition and has great impact on the future of any organization. Another way to get technology supremacy is through licensing, or acquisition and merger decisions. Intelligent mining and integration of patents, research literature and market information could provide highly valuable information and help strategic decision makers in reducing risk in technology selection, licensing or acquisition decisions.
For new product ideas or technology investment decisions, decision makers need a well organized technology and market forecast. Mining and intelligently analyzing the information to generate actionable intelligence is an art. Patents, non-patent literature (includes research articles, books, news, review articles, conference proceeding, dissertations and themes etc.,) and market information (includes market reports, news, annual reports, etc.,) contains huge amount of information and is not simple to locate the relevant information and further analyze it for generating meaningful insights. It require careful reading, innovative mind set, analytical approach and open for new ideas. Intelligent information mining provides as following information and makes the decision maker job easy:
- Potential technologies and new research opportunities (technology maps)
- Competitors activities, their strength and weakness
- Tracking development and recent progress in a particular technology domain of interest.
- Barriers of the technology and domain of interest.
- New emerging competitors with related technologies
- Small players having rights over potential technologies and improvement thereon.
- Get informed about the Venture Capital (VC) activities in interested domains.
- New licensing, acquisition of merger possibility.