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Data Mining Tools for Technology and …
VTT RESEARCH NOTES 2451 data Mining Tools for Technology and Competitive IntelligenceESPOO 2008 VTT RESEARCH NOTES 2451 Approximately 80 % of scientific and technical information can be foundfrom patent documents alone, according to a study carried out by theEuropean Patent Office. Patents are also a unique source of informationsince they are collected, screened and published according to internationallyagreed standards. In addition to being an extremely valuable source oftechnology intelligence, patent documents offer a business competitiveintelligence. Being aware of the state of the art of relevant Technology areasis crucial for a company's innovation process. Knowledge of developedtechniques and products forestalls overlapping R&D projects and therebyprevents unnecessary investment. Equally important is the recognition ofother actors operating in the field. Benchmarking and evaluating acompetitor's R&D and market strategies aids in managing one's ownprocesses and locating possible parties for collaboration or the patent system was established, more than 60 million patentapplications have been published.
4 This study took the point of view of a patent analyst with a basic understanding of patent data but no special knowledge of data mining techniques or the tools tested.
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