State Street has been granted a patent for a system and method for private cloud computing and cloud application development. The system includes components like a cloud controller, cloud stack, Service Registry, and cloud application builder. Additionally, the patent claims a system for business process outsourcing in a cloud computing environment with a computer-implemented data warehouse. GlobalData’s report on State Street gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on State Street, Grid computing was a key innovation area identified from patents. State Street's grant share as of May 2024 was 76%. Grant share is based on the ratio of number of grants to total number of patents.
Business process outsourcing system in cloud computing environment
A recently granted patent (Publication Number: US11960496B2) outlines a system for business process outsourcing in a cloud computing environment. The system includes a computer-implemented data warehouse accessible by user client devices connected to the cloud. It comprises a data acquisition layer, platform layer with a processing engine generating data marts based on models and rules, and an information delivery layer formatting and providing data to users. The system allows user programmability, real-time auto-refreshing of data marts, modification of input data, controlled storage, and dynamic hierarchies creation. It also features a multi-tenant environment, data lineage tracking, integration in a cloud environment, and a security framework with authentication options.
Moreover, the patent describes a computer-implemented method for generating data marts in a cloud environment accessible by authorized user devices. The method involves creating data elements and categories stored in cloud databases, integrating categories into data marts using meta-logic rules, and allowing user access to retrieve information for business use. The method emphasizes the use of searchable data element dictionaries and category libraries, with data marts serving as repositories for specific business data. Additionally, the method highlights the potential for the same device to be used by the computer and user, ensuring seamless access and retrieval of information elements. The patent underscores the importance of user-friendly searchability and integration of data elements for efficient business processes in a cloud environment.
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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.
