BlackRock has been granted a patent for a method to impute missing values in Environmental, Social, and Governance (ESG) data. The method involves using a matrix factorization model to predict missing values and identifying systemic missing data to apply bias correction. GlobalData’s report on BlackRock gives a 360-degree view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
According to GlobalData’s company profile on BlackRock, Insurance pricing automation was a key innovation area identified from patents. BlackRock's grant share as of May 2024 was 79%. Grant share is based on the ratio of number of grants to total number of patents.
Imputing missing values in environmental, social and governance data
A recently granted patent (Publication Number: US11983152B1) outlines a method for imputing missing values in Environmental, Social, and Governance (ESG) data. The method involves receiving a data spreadsheet representing ESG data from multiple entities, identifying missing data entries, and predicting values for these missing entries using a matrix factorization model. The system determines whether the missing data entries are randomly or systematically missing based on statistical analysis and, in the case of systematic missingness, identifies related ESG data descriptors. A bias correction term is then predicted and added to the missing data entries to improve accuracy.
Furthermore, the patent describes a system and a non-transitory processor-readable storage medium that execute similar operations for imputing missing values in ESG data. The system includes a communication interface, memory storing processor-executable instructions, and processors that perform operations such as identifying missing data entries, determining predicted values using a matrix factorization model, and assessing whether the missing data entries are randomly or systematically missing. In cases of systematic missingness, the system predicts a bias correction term based on relevant ESG data descriptors and incorporates it into the missing data entries. This innovative method aims to enhance the accuracy and completeness of ESG data analysis, providing valuable insights for decision-making processes in various sectors.
To know more about GlobalData’s detailed insights on BlackRock, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
