Juristat's analytic tools help firms identify areas primed for growth, showcase strengths to current clients, and create compelling pitches to prospective clients. Below are five of our top tips for getting started using Juristat's competitive intelligence data.
1. Use competitive intelligence metrics to identify strengths and weaknesses.
Juristat's competitive intelligence information can help you shore up your firm's weaknesses and use your firm's strengths to land new clients and demonstrate value to existing ones.
Using the filters and metrics on our Intelligence view or our (legacy) Business Intelligence reports, you can identify classes, art units, or tech centers where your firm is highly effective. Once you've identified a class or art unit where your firm is performing well, you can click on that class, art unit, or tech center to find out what potential clients file the most in that area.
2. Create data-driven RFP responses.
Responding to requests for proposal (RFPs) can be time-consuming. Using Juristat's Table view, you can quickly pull together the data requested commonly in RFPs, like the average number of amendments, office actions, RCEs, interviews and appeals for your firm's applications.
The first step is to create your data set of applications using Juristat's filter bank.
You'll want to first filter to your firm's applications, then apply any other necessary restrictions. For example, an RFP may request information about applications filed in particular technology centers or applications filed within a certain time frame. Using the filter bank, you can create the set of applications requested by almost any RFP.
Once your data set is created, click "edit columns" to add the information you need for your RFP response to your view.
From there, you can export your table to a .csv file to calculate things like average RCEs, amendments, appeals, etc.
For more information on using Platform to respond to RFPs, watch our 30-minute Master Class webinar on Crafting Data-Driven RFP Responses.
3. Use Juristat to Perform a Market Analysis.
Some common projects for business development or marketing teams is to identify the big players in an area of technology, find out what art units applications claiming a certain type of technology are assigned to, or generate a landscape analysis.
To get started with any of those projects, you can perform a keyword or similarity search to identify applications related to the type of technology you're interested in.
Once you have this set of search results, you can click to the Intelligence view to find out where most of the applications in your search results are grouped.
For example, by searching for
"smart contract" OR "smart contracts", we can find out that the most frequent filer is IBM and the applications are most frequently in art units 3685 and 2491.
4. Understand Juristat's Business Intelligence Data.
Understanding the data and metrics reflected in Juristat's competitive intelligence tools is key to making convincing client pitches and RFP responses. To help you better understand how Juristat's data is organized, cleaned, and updated, check out our Master Class webinar taking a Deep Dive into Juristat Data.