IBM's New Analytics Platform Mines Data from Patents, Intellectual Property

International Business Machines (IBM) has unleashed a new cloud based analytics platform designed to allow companies to use the data generated by intellectual property and scientific literature.

The strategic IP insight platform (SIIP) is capable of allowing Life sciences, chemical and consumer goods companies to mine data generated by patents, scientific literature and molecular date to give a boost to their own research and development projects and enhance their business.

The company believes that information generated by new patent applications and scientific features have a lot of potential to contribute to a related research, because they would otherwise go unnoticed.

"IBM SIIP was designed to help transform the innovation process across a range of industries by making it feasible to look at all the information that exists today and all the research that has already been carried out," said Chris Moore, partner and vice president, global business analytics and optimization leader, IBM Global Business Services.

"It provides a new approach to finding and correlating critical information through the combination of underlying data, deep analytics, delivery via the cloud as well as customized services to help research and development organizations fundamentally change their business," he added.

Find the press release here.