The Importance of Results Analysis
Being able to effectively analyze your results is a critical skill for any business to be able to perform. These results could be from many different data sets which could be from a variety of different types. The quality of the analysis you perform on your results is a key factor when it comes to being able to make the correct decisions for your business which will then enable you to not only survive but also be successful within your particular technology field. This type of analysis can also be considered to be critical regarding the results you receive when you perform a patent search since having knowledge of both your own and your competitors' IP capabilities should be a key consideration when it comes to making many important business decisions.
Since PatSnap has a considerably large patent database, it is key to make sure you effectively analyze any results you pick up from the searches you perform. This can be achieved by utilizing various different parts of our platform, which range from quite simple methods and some more advanced techniques. Within this paper, I am going to concentrate on the basic methods so you will easily understand how you can immediately start effectively analyzing your results.
The two methods I am going to mention within this paper are first to make use of the Analysis charts given within the Analyze tab found once you have performed your search which will enable you to do some quick analysis on your results. The second is to make use of our Insights platform which allows you to do a more in-depth analysis of your results whether that be regarding a particular company or an overall technology field.
Analyze Tab
Once you have set up the perfect search query and are confident that you have the desired results, you can then immediately do some basic Analysis on these results by clicking on "Analyze".
Once you have done this, you will then come to the Overview area which as the name describes will give you an overview for these results. From here, like from the search results page, you can refine your results down using a particular keyword, search query or series of filters. You will also see a number of different types of analysis that you can do and up to 6 charts that you consider to be the most important.
In the above image are the 6 charts that will be set up by default when you first come into this area. All the charts that are included within the Analyze tab can be considered to be useful, however, the 6 given should be considered to be the most important and I will give a description of each of them below.
Application Trend
This graph will show the trend of patent applications that have been filed by your competitor or technology field of interest over time. This is important information to know since for example, it will let you know whether or not one of your competitors is becoming more and more active within a particular technology field of interest which will then allow you to react accordingly.
From here, by clicking on the option of "Trend Prediction" you are able to get a prediction of the true number of applications within the last two years for your search query which is important as the majority of patent applications take a couple of years before the final application is published. You can also select to see only the application within a particular time frame which for example, could be making the time frame smaller so the chart looks less cluttered.
Top IPC
This graph will show you the most common IPCs for your search results. This is very important to consider if you are searching for a particular competitor's portfolio since it will show you the technology fields they are focused on. From this, you will be able to make plans to either work against them in these particular fields or avoid them altogether.
From here, you are able to select multiple IPCs to get a more holistic view of your competitor's portfolio and see some of the more abstract areas they are working in. You can also select the level of IPCs you want to view the IPCs from, which means you can have a more general view of the technology fields that they are working in.
Top Current Assignees
This graph will show you the top current assignees for your search query. This is critical information to have since it will enable you to work out which are the companies that are most active within your technology field of interest. From this, you will be able to make plans to work out how to combat these potential competitors or steer clear of them altogether.
From here, you are able to select further assignees to get an even stronger idea of who is operating within this space.
Top Authorities
This graph will show you the top authorities for your search query. This is essential information to have since it will show you the jurisdictions have had a lot of patenting activity within this space and would be best to avoid. As a patent can only block your freedom to operate within the country it was filed in, you can instantly feel more comfortable from working within one which has a lower patent count.
From here, you are able to select further authorities to enhance the global picture of the patenting strategy of various companies within this area.
Top CPC
This graph will show you the most common CPCs for your search results. Like IPCs, these are a type of classification code so the reasons for using them can be considered to be similar to that of IPCs, however, you may prefer to consider CPCs rather than IPCs since they are more up to date.
Patent Type
This graph will show you the different types of patents that are included within the results for your search query. This is useful information to have, since for example, if there are a significant proportion of patents that are labelled as "Utilities", then these will be utility models and will therefore have a shorter life span and will block your ability to operate for a shorter period of time. Alternatively, if there are a significant proportion of patents that are labelled as "Design", then these will be design patents so will be protecting a shape or ornamentation rather than a functionality.
Insights
An alternative way of analyzing your results is to make use of various different functionalities within our additional Insights platform.
You can create an Insights technology dashboard based on the results for your search query by going to the option of "Insights" from the search results page.
Once you have created the dashboard, you will see that there are various options at the top right of the main page which are to export/share/delete the dashboard, view your results in Analytics and change your settings. You can also see a list of (mostly financial) indicators for the most prolific patenters within this technology area. Finally, you will be able to see a brief overview of what is given in the portfolio and financial analysis areas of the dashboard as well as the available playbooks.
Portfolio Analysis
The first type of results analysis you can perform in an Insights dashboard is a "Portfolio Analysis" which will enable you to view a number of different sets of charts which will allow you to take numerous different stances on your technology space of interest. Depending on what you are especially interested in, you can view information about the key jurisdictions, technologies, inventors, etc.
Financial Analysis
The second type of results analysis you can perform in an Insights dashboard is a "Financial Analysis" which will enable you to view a pair of sets of charts which are based on the most valuable patents and how easy it is to renew patents within this technology area.
Summary
There are three key points to consider when it comes to analyzing your results:
- Make sure you know exactly what pieces of data you want to get out of the analysis
- Locate the charts that best exhibit this data
- Collaborate with others to further explore the data
Whatever industry you are in, it is always important to effectively analyze your results since it will support you when you make key business decisions. This is certainly true regarding patents since they can be the different between being able and not being able to operate in a specific area or to be able to block one of your competitors who has violated one of your patents.