Management is Dependent on Data
In any aspect of business management, whether it’s managing teams, projects, or intellectual property (IP) development, leadership needs to know they can fall back on data to tell them if they’re achieving their objectives. Staying abreast of specific outcomes is crucial to resource or budget management, assigning team members to the most productive roles, and communicating the next steps necessary for success. Many innovation teams hit an obstacle, however, when they try to organize that data and convey the most important messages to their colleagues. That’s where visualization and reporting tools come in.
The best IP management software solutions will not only enhance the invention disclosure and IP protection process, but shed light on the most critical information for benchmarking success. Most of that data is innately held in the system, but with no way to rapidly export all of it and make the appropriate calculations to make it meaningful. Instead, analysts are forced to sift through the data and use a third-party spreadsheet program to organize it. This severely hinders decision-making agility and thus, the effectiveness of the underlying innovation strategy and the corresponding team’s productivity.
With data visualization, those issues are eliminated. Inventors and other team members can access the information they need on demand to assess their next steps for tasking. When it comes time to report to superiors, the data can be quickly displayed in familiar, easy-to-understand graphic layouts. Communication between colleagues becomes simpler, and strategic objectives become clearer for all parties. Just by re-organizing and presenting data in a different way and making it readily available at a moment’s notice, the entire organization can function with more precision and efficiency.
Data Visualization for DecipherTM
We’re proud to announce that one of the best IP management software solutions on the market, DecipherTM, is now equipped with a visualization module that surfaces the data that teams need to manage the innovation process successfully. This new addition to the system allows users to view nearly any data set found in the application and present it in a graphical view. These reporting dashboards can be generated by selecting criteria like:
- Assigned Team Member
- Invention Disclosure Stage
- Operating Company
- Country of Patent
- Created Date
- Technology Type
- And much more
The data points are laid out in a simple list and can be set shown or hidden to display the appropriate output. Decipher makes it easy for management or team leaders to set up the key metrics they care about and then quickly measure progress against their strategic goals.
Here are some examples of useful data layouts Decipher users can set up for themselves:
- Invention Disclosure Stage + Assigned Team Member: See how many pending projects are generated by a specific team member to identify coaching opportunities or procedural bottlenecks in the invention disclosure process.
- Invention Disclosure Count + Operating Company: Which of your collaborative relationships are operating most effectively? Use this information to pinpoint your biggest opportunities for collaboration and costs associated with certain partnerships.
- Invention Disclosure Submission Date within a Designated Date Range: Analyze your innovation team’s performance throughout the year. Are specific months or quarters more productive for your team? Capitalize on this data to optimize your labor resources for your most important projects.
Contact IAG today to gain access to the powerful data visualization suite and begin making more informed decision-making for your innovation efforts.
Looking for more information about what Decipher can do? Click here to explore the Top 10 Reasons to Use Decipher for IP management at your organization.