In today’s rapidly changing business environment, R&D organizations must constantly renew their technology strategies by leveraging both internal and external knowledge. The internal knowledge of an organization represents a unique understanding of its business models and technologies. However, internal knowledge is often limited by the organization’s current perspective, which may not always reflect market trends. In order for organizations to gain a broader perspective and formulate strategies with the most up-to-date and relevant knowledge, external knowledge is valuable because it can provide new perspectives and ideas. By combining external and internal knowledge, organizations can develop powerful strategies, but they will need a strategic and thoughtful approach to overcome the following challenges:
- A key component of leveraging external knowledge is the search and extraction of relevant information, which is a time-consuming and resource-intensive process that requires significant expertise and a good understanding of the current needs of R&D organizations and industries.
- Furthermore, global information sources are increasing exponentially, and data can be found on a wide range of platforms, websites, and databases. In contrast, if relevant information is sourced, access to such a wide range of data can offer many opportunities to R&D organizations.
- In addition, to ensure accuracy and completeness, it is necessary to connect and analyze the information that has been extracted, as well as to triangulate information from different sources.
- As part of the research process, developing an insightful report is also an important component, as it would ensure that key findings are effectively communicated which helps R&D organizations in the overall decision-making process.
SciTech Patent Art (SPA) has developed a platform / tool for connecting-the-dots across many data sources, by adopting a highly time-efficient hybrid approach based on Machine Learning, Deep Web crawling and manual analyst curation. Using high-quality curated data, the platform allows users to connect the dots seamlessly and, in effect, simplifies the insight generation process.