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Innovation metrics – measuring and controlling innovation

With innovation KPIs, you control the development of innovation as well as your activities in innovation management. Innovation metrics show what innovation brings, costs, and when the investment pays off. Qualitative and quantitative metrics on innovations give you the answers. 

The challenge

Assessment

Assess and control innovation projects. 

  • Without metrics, investments in innovation are difficult to evaluate. 
  • Innovations require comparable KPIs to control parameters.
  • There is no substantiated decision-making without metrics. 
The solution

Innovation KPIs

Render innovation success tangible with metrics. 

  • Measure the efficiency and effectiveness of your innovation processes. 
  • Improve the quality of the metrics concerning your innovation activities. 
  • Verify the market success of your product, process, and method innovations. 
The result

Measuring innovation

Professional innovation control based on valid metrics and control parameters. 

  • You work with custom-fit innovation controlling.
  • Reliable results make strategic decision-making easier for you.
  • Control innovations thanks to defined processes and well-conceived implementation.
Evaluation of innovation

How do you measure innovative strength?

How do you measure innovative strength?

The innovative strength of your company is measured by its rate of innovation. The innovation KPI shows how much revenue is generated by new products (product innovations).
On top of this, the indicator for the innovation rate provides valuable conclusions. This describes the percentage share of innovations with respect to all products.

Choosing the metrics

What to look out for when measuring your innovation successes

What to look out for when measuring your innovation successes

Figures are the basis of strategic decision-making in innovation management. However, you need to scrutinize whether an innovation metric actually answers your question.

An example: the number of registered patents is one metric, but this is merely data. It is does not tell you whether your company's innovations are reaching the market or not.
Make sure to work with meaningful metrics. There do not have to be many, but they should help you with strategic control.

Metrics on innovation

Transparent monitoring for holistic innovation
management

  • Make innovations measurable
  • Remember innovation history
  • Reference points for strategic decision-making
  • Control innovation management

Why we are the right innovation partner

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You open up new areas of opportunity. We develop reliable innovation controlling for you.
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You increase market success through innovations. With our systematic and holistic approach, we identify the right metrics.
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You know where you stand compared to the competition. We have been enhancing the innovative success of established companies using innovation KPIs for 20 years.
Paper Measuring Innovative Strength
Download

Request a free white paper now and obtain exclusive information.

With innovation metrics, you make communication in your company easier. With the metrics acquired, you understand the past better and make strategic decisions for the success of tomorrow. In this paper, you will learn what to pay attention to regarding innovation metrics.

This is how we do it …

Three steps to your innovation metrics

  1. Together, we choose the right metrics for your company. 
  2. The innovation metrics of previous years are gathered as a benchmark.  
  3. The objectives for improving the innovation KPIs are defined, and appropriate actions are derived. 

Innovation metrics for the holistic control of new things

Among other things, metrics in innovation management are used for achieving strategic objectives, and making the efficiency and effectiveness of innovation processes visible and communicable. You find the 'correct' parameters for your company by checking the available data situation as a first step. This involves both quantitative figures (e.g. sales figures) and qualitative data (e.g. employees' willingness to innovate).

When choosing the innovation KPIs, it is not about the volume of figures, but rather if they provide you with the requisite information for controlling innovation. Based on your innovation process, for example, consider which metrics are required and also used by the respective parties. If you have determined the most important metrics for your innovation management, you should check feasibility before you transition to implementing the new metrics.

The quality of innovation management or the financial success of new products or services, for example, are illustrated with the supplied information. 

Important: concentrate on a few metrics that are appropriate for your organization and your innovation management. 

Innovation system – Innovation index KPI

The methods

The lead user method

The driving force behind innovation is often advanced users with a sense for customer requirements and the markets of tomorrow. We use these attributes in the lead user approach: experts in our global lead user network enhance your innovation projects with a wealth of experience and active collaboration.

Service design

Customer-focused services leave a lasting impression. With the service design approach, we develop an understanding for customer expectations and needs together with you. With this knowledge, we design the interaction along the customer journey to be more intuitive. Consequently, you excite customers and trust in your brand grows.

Design thinking

Design thinking solves problems systematically and accelerates the innovation process. The customer-focused approach is suitable for the development of better products, services, and business models. In an iterative and agile design process, we analyze the problem, identify solutions, and test the result together with you.

Agile project management

With innovation projects, the result is mostly uncertain and requires agility, flexibility, and quick results. Agile project management simplifies the customer-focused development of high-quality innovations, especially in product development. Work in agile teams is efficient, and the results are quickly visible.

The innovation contest

The innovation contest allows new ideas to emerge in your company. An internal competition for ideas makes the creativity of your employees visible and unveils the unexpected potential of staff. You fill your ideas pipeline efficiently and with structure, while promoting a positive culture of innovation at the same time.

Innovationsprozess als Erfolgsfaktor einführen

Grundsätzlich geht es bei Innovationsprozessen in Unternehmen darum, einen klaren Rahmen zu schaffen, der festlegt, wie Ideen im Unternehmen eingebracht, wie sie weiterverfolgt und wie sie auf den Markt gebracht werden. 

Innovationsprozess als Erfolgsfaktor einführen

Grundsätzlich geht es bei Innovationsprozessen in Unternehmen darum, einen klaren Rahmen zu schaffen, der festlegt, wie Ideen im Unternehmen eingebracht, wie sie weiterverfolgt und wie sie auf den Markt gebracht werden. 

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Das House of Innovation

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Das House of Innovation

Weit hinten, hinter den Wortbergen, fern der Länder Vokalien und Konsonantien leben die Blindtexte. Abgeschieden wohnen sie in Buchstabhausen an der Küste des Semantik, eines großen Sprachozeans. Ein kleines Bächlein namens Duden fließt durch ihren Ort und versorgt sie mit den nötigen Regelialien.

Es ist ein paradiesmatisches Land, in dem einem gebratene Satzteile in den Mund fliegen. Nicht einmal von der allmächtigen Interpunktion werden die Blindtexte beherrscht – ein geradezu unorthographisches Leben. Eines Tages aber beschloß eine kleine Zeile Blindtext, ihr Name war Lorem Ipsum, hinaus zu gehen in die weite Grammatik.

Want to learn more? Get in touch with us now and arrange a consultation date.

“Viele Sachverhalte werden von uns intern als selbstverständlich wahrgenommen und nicht mehr hinterfragt. Oft hilft ein Blick von außen, um sich von alten Denkmustern zu lösen.”

“Viele Sachverhalte werden von uns intern als selbstverständlich wahrgenommen und nicht mehr hinterfragt. Oft hilft ein Blick von außen, um sich von alten Denkmustern zu lösen.”

“Viele Sachverhalte werden von uns intern als selbstverständlich wahrgenommen und nicht mehr hinterfragt. Oft hilft ein Blick von außen, um sich von alten Denkmustern zu lösen.”

“Viele Sachverhalte werden von uns intern als selbstverständlich wahrgenommen und nicht mehr hinterfragt. Oft hilft ein Blick von außen, um sich von alten Denkmustern zu lösen.”

Ing. Reinhard Mäserk ehem. Entwicklungsleiter
Frank Bistrick Abteilungsleiter Produktentwicklung
Katrin Moser Product Manager
Frank Bistrick Abteilungsleiter Produktentwicklung
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