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An Interval Estimation Method of Patent Keyword Data for Sustainable Technology Forecasting

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  • Daiho Uhm

    (Department of Mathematics, University of Arkansas—Fort Smith, Fort Smith, AR 72913, USA)

  • Jea-Bok Ryu

    (Department of Statistics, Cheongju University, Chungbuk 28503, Korea)

  • Sunghae Jun

    (Department of Statistics, Cheongju University, Chungbuk 28503, Korea)

Abstract

Technology forecasting (TF) is forecasting the future state of a technology. It is exciting to know the future of technologies, because technology changes the way we live and enhances the quality of our lives. In particular, TF is an important area in the management of technology (MOT) for R&D strategy and new product development. Consequently, there are many studies on TF. Patent analysis is one method of TF because patents contain substantial information regarding developed technology. The conventional methods of patent analysis are based on quantitative approaches such as statistics and machine learning. The most traditional TF methods based on patent analysis have a common problem. It is the sparsity of patent keyword data structured from collected patent documents. After preprocessing with text mining techniques, most frequencies of technological keywords in patent data have values of zero. This problem creates a disadvantage for the performance of TF, and we have trouble analyzing patent keyword data. To solve this problem, we propose an interval estimation method (IEM). Using an adjusted Wald confidence interval called the Agresti–Coull confidence interval, we construct our IEM for efficient TF. In addition, we apply the proposed method to forecast the technology of an innovative company. To show how our work can be applied in the real domain, we conduct a case study using Apple technology.

Suggested Citation

  • Daiho Uhm & Jea-Bok Ryu & Sunghae Jun, 2017. "An Interval Estimation Method of Patent Keyword Data for Sustainable Technology Forecasting," Sustainability, MDPI, vol. 9(11), pages 1-19, November.
    • Handle: RePEc:gam:jsusta:v:9:y:2017:i:11:p:2025-:d:117694
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    References listed on IDEAS

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    1. Hong-Hua Qiu & Jing Yang, 2018. "An Assessment of Technological Innovation Capabilities of Carbon Capture and Storage Technology Based on Patent Analysis: A Comparative Study between China and the United States," Sustainability, MDPI, vol. 10(3), pages 1-20, March.
    2. Ghaffari, Mohsen & Aliahmadi, Alireza & Khalkhali, Abolfazl & Zakery, Amir & Daim, Tugrul U. & Yalcin, Haydar, 2023. "Topic-based technology mapping using patent data analysis: A case study of vehicle tires," Technological Forecasting and Social Change, Elsevier, vol. 193(C).
    3. Juhyun Lee & Jiho Kang & Sangsung Park & Dongsik Jang & Junseok Lee, 2020. "A Multi-Class Classification Model for Technology Evaluation," Sustainability, MDPI, vol. 12(15), pages 1-16, July.
    4. Jong-Min Kim & Bainwen Sun & Sunghae Jun, 2019. "Sustainable Technology Analysis Using Data Envelopment Analysis and State Space Models," Sustainability, MDPI, vol. 11(13), pages 1-19, June.

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