A text-mining-based patent network: Analytical tool for high-technology trend

Byungun Yoon, Yongtae Park

Research output: Contribution to journalArticlepeer-review

490 Scopus citations

Abstract

Patent documents are an ample source of technical and commercial knowledge and, thus, patent analysis has long been considered a useful vehicle for R&D management and technoeconomic analysis. In terms of techniques for patent analysis, citation analysis has been the most frequently adopted tool. In this research, we note that citation analysis is subject to some crucial drawbacks and propose a network-based analysis, an alternative method for citation analysis. By using an illustrative data set, the overall process of developing patent network is described. Furthermore, such new indexes as technology centrality index, technology cycle index, and technology keyword clusters are suggested for in-depth quantitative analysis. Although network analysis shares some commonality with conventional citation analysis, its relative advantage is substantial. It shows the overall relationship among patents as a visual network. In addition, the proposed method provides richer information and thus enables deeper analysis since it takes more diverse keywords into account and produces more meaningful indexes. These visuals and indexes can be used in analyzing up-to-date trends of high technologies and identifying promising avenues for new product development.

Original languageEnglish
Pages (from-to)37-50
Number of pages14
JournalJournal of High Technology Management Research
Volume15
Issue number1
DOIs
StatePublished - Feb 2004

Keywords

  • Citation analysis
  • Patent network
  • Technoeconomic analysis

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