how do we measure innovation?

How do we measure innovation?

http://www.imagebase.net/Concept/imagebase8_17

Question # 1

How do we measure innovation input?

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

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

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

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

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

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

Question # 2

How do we measure an innovation process?

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

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.

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.

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.

Question # 3

How do we measure innovation output?

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

Percentage of revenue coming from international markets

Revenue from international markets

Total revenue

Revenues from services as a percentage of revenues from products

Revenues from services in month x

Revenues from products in month x

Number of new users in month x.

Costs of material y saved in month x due to using a new idea.

Change in extent to which people trust people they work with during month x.

Change in extent to which people are excited about what they do during month x.

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