Posts Tagged: "Big Data Analytics"

Instead of following the same IP plan year after year, IP managers should focus their strategy on aligning their IP with their business, including developing a more concise IP plan, and switch to using smarter and modern analytics… IP managers must: (1) Start with the end in mind: IP is the business; (2) Build a plan, measure and manage and continuous improvement; and (3) Create an environment where your IP and business execs have access to timely actionable intelligence to support their decisions and strategies.

Although law firms have traditionally been slow to adopt technology, a 2015 survey conducted by Williams Lea Tag and Sandpiper Partners LLC reported that 64 percent of law firms now believe investing in technology is a priority. Attorneys are using technology to personalize connections with clients, automatically update legal documents, and improve operational efficiency—all of which frees up valuable time for client work, according to Law Technology Today. This is especially true for IP attorneys as they are on the front lines of technological growth. However, rather than implementing a variety of disparate solutions and falling victim to application gluttony, IP attorneys need an enterprise class solution that provides the breadth of capabilities needed to perform the exacting task of IP prosecution and management.

When you think of autonomous cars or driverless vehicles, you probably don’t associate them with cloud computing and data analytics. However, that’s exactly the technology that makes autonomy possible, at least when it comes to modern mechanics… A vehicle that has to wait for commands from a cloud system is especially vulnerable.

On Wednesday, October 26, 2016 at 2pm ET, please join Gene Quinn (IPWatchdog) and Monty Wright (VP of IP Assets for GE Ventures Licensing) for a discussion on how IPW professionals can become more agile and profitable by using intelligence derived from big data. Whether you are representing clients or attempting to deliver results for your company, the insights waiting to be discovered both with respect to your in-house landscape and from a competitive intelligence standpoint are great.

Customers, myself included, are used to the customer-centric technologies experienced in other ‘digitized’ sectors like publishing or music – these have had to adapt to the digital revolution early. Customers now want that experience replicated in the FS sector. Banks, for example, are beginning to take notice, investing significant amounts of money in IT upgrades: Australia’s Commonwealth Bank invested over AUD $1.1 billion in an end-to-end IT transformation project to replace its aging core banking system and Barclays has been promoting customer-centric technologies like the mobile payments app PingIt for many years.

As anyone who’s worked at a law firm can attest, lawyers at a firm use each others’ experience to inform their strategy in a given case. Firm-wide emails asking if anyone has appeared in front of a particular judge or tribunal are routine and allow lawyers to benefit from the insights their colleagues provide. Big data analytics allow lawyers to gather this same information, but on a much larger scale. For instance, analytics platforms allow attorneys to view their judge’s complete history, including every decision issued and every case cited, to identify the legal precedent the judge finds most persuasive.