IBM Unveils Analytics Solution to Help Clients Extract Insight from Patents and Intellectual Property
ARMONK, N.Y., - 08 Dec 2011: IBM (NYSE: IBM) today announced new analytics software and services designed to help companies understand and more effectively use intellectual property, scientific literature and molecular data to advance their business. By providing rapid access to worldwide patent data, researchers can tap into one of the most extensive sets of data available to explore new innovations
IBM's cloud computing-based business analytics and optimization strategic IP insight platform (SIIP) can enable organizations to quickly mine and use information in scientific literature and patents by bringing together much of the world's body of patent information in one place and applying advanced analytics. For example, it can automatically use image analysis and enhanced optical recognition of chemical images and symbols to extract information from patents and literature upon publication. This is a task that otherwise takes weeks and months to complete manually, but can be done rapidly by using this new technology.
Life sciences, chemical and consumer goods companies are under intense pressure to enhance the performance of their research and development programs and use intellectual property more effectively. In these industries, profits are driven by unique product offerings or identifying new market opportunities. Finding and correlating the latest scientific research and patent information is critical in identifying new market opportunities. This requires sorting, cataloging and analyzing mountains of information. It is labor-intensive, costly and often misses critical information that could be used for innovation.
... Using the IBM SmartCloud, deep analytics tools are applied against patent documents from the United States Patent and Trademark Office, European Patent Office and World Intellectual Property Organization and the public domain portion of scientific abstracts from the U.S. National Library of Medicine's MEDLINE database to expose valuable insights about the competitive landscape. IBM SIIP can be used to help identify new market opportunities and potential collaboration partners. The solution also enhances the ability to manage and monetize Intellectual Property portfolios, and helps companies pursue stronger, higher quality patents.