State Street has been granted a patent for a system and method for private cloud computing and developing cloud applications. 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 April 2024 was 73%. Grant share is based on the ratio of number of grants to total number of patents.
Business process outsourcing system in private cloud computing
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 a user client device connected to the cloud environment. The data warehouse comprises various layers such as data acquisition, platform, and information delivery layers. The platform layer includes a processing engine that generates data marts based on models and rules specified by the user, with the ability to store processed data in interim data marts before transmitting it to the final data marts for storage. The system also features an information delivery layer to format and provide data to the user.
Moreover, the patent details a method for generating data marts in a cloud environment accessible by user client devices authorized to access the cloud. The method involves creating data elements and categories stored in cloud databases to form searchable dictionaries and libraries. Data marts are then created by integrating categories into repositories for specific business issues, with meta-logic rules applied to process data elements. Users can access and retrieve information from these data marts for business use. The patent also highlights the ability for the system user device to access the searchable data element dictionary, enhancing user interaction with the system.
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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.
