The technology monitoring process includes reviewing scientific sources such as articles and patents to identify technologies and markets. In technology monitoring, reliable sources are gathered, organized, created databases, and sorted data into relevant technology. Then the results are extracted from graphs, which ultimately leads to detecting superior and emerging technologies.
The number of patents in the patent landscape reports is often very high, include strategic and technical aspects. Within the strategic section, the main players and markets relevant to the appropriate technology are identified, while in the technical analysis, the scientific details of the technology are analyzed. The technology analysis section can provide the customer with a complete and comprehensive view of the scientists' research in that field, besides determining valuable and essential research in the desired technology. Thus, this section can significantly help researchers to select or expand technology.
Nevertheless, the critical point in these types of reports is that typically, the data volume of this kind of reports is generally high, which increases the cost significantly. Considering that these reports offer an extensive and comprehensive view, they are best suited for big companies and newcomers.
Often other customers tend to purchase custom reports to enjoy the benefits of technology monitoring. The target technology monitors the customer-selected segments through this type of reporting, which contains a limited database, resulting in a lower cost for the customer. For example, the customer may only need to analyze the strategic sector (market identification and technology players).
Why should technology monitoring be left to experts in this field?
Some scientists and researchers believe they can conduct the observations themselves because of their scientific aristocracy, but science spreads rapidly. As mastering extensive scientific resources can take a long time, these people do not fully understand the various aspects of technology and cannot detect important information during the screening phase and ignoring some sources may lose helpful information, while companies with a comprehensive view of both the market and the technology can identify this type of information.
Another issue that arises in the observation by researchers and scientists is that they use analytical software to observe a significant amount of scientific resources in which some keywords have to be defined. When the range of keywords is incomplete, this software filters a lot of relevant information from the search domain, resulting in significant errors in the analysis and final results.
Finally, due to the large volume of resources, researchers and non-observational researchers may be unable to identify emerging technologies and newcomers to the relevant technology through patents and articles. Therefore, research by non-observational researchers may be incomplete, which is even more critical for investors.
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