Business Intelligence is a systematic way of gathering data, analyzing the factors involved and utilizing the same while making decisions. This approach is especially helpful for companies that have plans of expanding their empire or are launching a new product. It is also helpful for those who are required to make critical business decisions that involve mergers & acquisitions and implementation of corporate strategies.
Utilizing business intelligence from Intellectual Property Rights can help an organization in following a pro-active approach. Relevant data needs to be extracted from the Patent Database, which is where the concept of Patent Mapping comes in picture. With Patent Mapping Tool, the existing patents can be mapped and analyzed in order to determine the risks involved and the opportunities it offers. A comprehensive SWOT analysis can be done using this tool and according the strategies can be devised.
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