Mining external R&D

Open Innovation presses the case for timely and thorough intelligence concerning research and development activities conducted outside one's organization. To take advantage of this wealth of R&D, one needs to establish a systematic tech mining process. We propose a 5-stage framework that extends literature review into research profiling and pattern recognition to answer posed technology management questions. Ultimately one can even discover new knowledge by screening research databases. Once one determines the value in mining external R&D, tough issues remain to be overcome. Technology management has developed a culture that relies more on intuition than on evidence. Changing that culture and implementing effective technical intelligence capabilities is worth the effort. P&G's reported gains in innovation call attention to the huge payoff potential. (C) 2011 Elsevier Ltd. All rights reserved.