Technology is at the forefront of businesses, both products and services as well as the processes used to generate them. Businesses continually invest in strategic resources, such as research and development and marketing and advertising, along with realigning their organizational objectives to renew their competitive capabilities to stay ahead of the competition.
Analyzing competitors on a continuous basis, helps a business to gain strategic advantage, determine its weaknesses and identify threats and opportunities. The importance of obtaining sufficient competitive intelligence to gain and maintain a significant competitive edge is well established. There are various strategies and techniques to go about competitor analysis and gather competitive intelligence. One source that is often not leveraged enough, is analyzing competitors’ intellectual property or patent assets. Patent filings are usually the first indication of a new product or solution of any technological development or advancement.
Why Patent Data for Competitive Intelligence?
Patent data proves to be an indispensable source of competitive intelligence. Patent information can be used to gauge the present and future activities of the competitors, as well as understand where a specific industry is headed. A competitor analysis using patent data can reveal the following:
Analyzing complex patent data for multiple competitors along different dimensions is however an onerous task. The existing methods to study patent data and gather insights are laborious and require months of effort by subject matter experts. This makes it too expensive and ineffective for businesses to follow such approaches.
How to track competition in 3 simple steps?
Relecura addresses these issues and provides a solution that aids you in analyzing your competition and extracting insights within minutes. Our automated workflows enable you to gain the much-needed competitive intelligence and monitor your competitors on an ongoing basis. Watch the video below to understand how it works.
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Relecura’s forte is its flexibility and adaptability to address specific problems and close-fitting solutions. The basic problem is that innovators are often not able to identify the industrial and commercial significance of their innovation as due diligence takes long days of analyses necessitating a deviation from their regular and familiar activities. And it is a tedious iteration process. The latest custom AI capabilities help you assess the commercial value of innovation and technical due diligence can be automated to yield meaningful and immediate results. The repetitive tasks could be automated, and your time and energy could be devoted to strategic missions.
Management of large Innovation data is costly and labor intensive. Relecura offers AI Powered classification tools for categorizing and organizing data automatically and instantly. Automated Categorization against suitably chosen training documents keeps your innovation portfolio updated and lucidly classified, amenable to instant analyses.
Relecura offers fully automated custom AI solutions to track and explore developments in different technology areas. You can stay updated on the latest developments in different companies and technologies of your interest, which facilitates intelligent decision-making.
Competitive intelligence is a prerequisite for strategic decision making. Relecura provides tools to track the innovation and publication dynamics of your competitors, based on which you can prioritize your innovation initiatives and thus hone up your competitive edge.
Relecura uses white space analysis within its product platform known as the TechTracker, an AI powered tool that provides insights on various technological trends and offers a peep into your competitor’s patent arsenal. Additionally, it helps you keep track of emerging organizations and technologies to help you manage your budgets and investments, optimally.
“Relecura helps us remain innovative by allowing us to see where the competition is playing through the landscaping tools. It lets us see where there are new opportunities and helps us focus in on those areas in an intelligent way.”
“Ralecura helps us ride the crest of innovation wave keeping a competitive edge. It helps us identify the white spaces and where the opportunities are.”
‘Our policy decisions regarding the focus areas of research and investment are being taken based on the insights offered by the custom AI tool, TechTracker, which offers a clear picture about the emerging technologies, companies, and the white spaces on the technology landscape of the key players. This helps us optimize resource utilization and maximize returns,’
‘The Classifier tool, introduced by Relecura, is indeed useful in managing and updating large datasets. After having subscribed to that AI-powered tool, inhouse big data management, and analyses have become easier and hassle-free,’
‘Relecura platform is fueled by the latest technologies and the tools that the platform hosts make our inhouse innovation management smooth and accurate, in addition to being synchronized with the global technology frontline,’
Make faster, better technology decisions with Relecura
Our professional services offer training and support to minimise time-to-value on the Relecura platform and make more timely, confident IP decisions