how do we measure innovation?
DESCRIPTION
Question # 1: How do we measure innovation input? Question # 2: How do we measure an innovation process? Question # 3: How do we measure innovation output?TRANSCRIPT
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How do we measure innovation?
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Question # 1
How do we measure innovation input?
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Research and development budget per year as a percentage of total revenues per year
Research & development budget in year x
Total revenues in year x
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The number of hours that a person spends in week x studying presentations / blog postings / books etc.
related to innovation
The number of hours the person works in week x
Part of weekly work time spent on studying presentations / blog postings / books etc. related to innovation
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The number of people who learn about creative thinking methods in month x
The total number of people working for the company in month x
The number of people who learn about creative thinking methods as percentage of total number of people
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Number of likes and retweets that a person makes in month x to tweets related to innovation
Number of days per month a person works
Average number of likes and retweets that a person makes per day to tweets related to innovation
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The total number of ideas that a person develops and communicates in month x
The average number of ideas that a person develops and communicates per day
Number of days per month a person works
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Ideas that come from external people through social media as percentage of total ideas developed in month x
The number of ideas communicated - in month x -by external people through social media
The total number of ideas communicated in month x
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Question # 2
How do we measure an innovation process?
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The number of hours that a person spends on trying out ideas in month x
The number of hours that the person works in month x
Part of monthly work time spent on trying out ideas
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The number of days it takes from the day an idea is communicated to the day that a resulting service / product is
used by a customer.
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The number of barriers that a person experiences from the day she communicates an idea to the day that a resulting product / service is used by a
customer / user for the first time.
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The number of times that a person is praisedby other people from the day she communicates the idea to the day the resulting product is first used by a
customer / user.
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Question # 3
How do we measure innovation output?
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Revenues from products or services introduced in the last 2 years as a percentage of total revenues
Revenues in month x from products or services introduced in the last 2 years
Total revenues in month x
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Percentage of revenue coming from international markets
Revenue from international markets
Total revenue
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Revenues from services as a percentage of revenues from products
Revenues from services in month x
Revenues from products in month x
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Number of new users in month x.
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Costs of material y saved in month x due to using a new idea.
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Change in extent to which people trust people they work with during month x.
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Change in extent to which people are excited about what they do during month x.
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Some sources
http://www.bizjournals.com/bizjournals/how-to/growth-strategies/2014/11/6-ideas-about-how-to-measure-innovation.htmlhttp://creatingminds.org/tools/tools_selection.htmhttp://www.fastcodesign.com/3031788/how-to-measure-innovation-to-get-real-resultshttps://hbr.org/2013/12/a-winning-culture-keeps-score/http://www.inc.com/ilan-mochari/innovation-metric.htmlhttp://innovateonpurpose.blogspot.com/2011/03/criteria-for-your-idea.htmlhttp://www.innovationmanagement.se/2011/10/10/measuring-for-innovation%E2%80%93a-guide-for-innovative-teams/http://www.innovation-point.com/innovationmetrics.htmhttp://www.mixprize.org/story/crafting-one-of-worlds-largest-ideapreneurshiphttp://www.oecd-ilibrary.org/education/measuring-innovation-in-education_9789264215696-enhttp://performance.ey.com/2014/03/03/measure-innovation/http://www.realinnovation.com/content/c080811a.asphttp://research.gigaom.com/2014/02/how-to-measure-innovation/https://www.wethinq.com/en/blog/2014/03/06/How-to-Measure-Open-Innovation.html