50+ statistics on innovation – What do the numbers tell us?

Innovation is a strategic priority for most large firms, with studies showing that the best innovators see improved revenue growth and EBITDA. However, it's difficult for companies to achieve success, with research showing that only a small percentage of executives are satisfied with their innovation performance. To improve, it's important for firms to measure innovation holistically and with action in mind, have a 'need seeker' mentality, align business and innovation strategies and maintain a pro-innovation culture, take a portfolio approach, establish ambidextrous organizations with a focus on open collaboration, and base project approval on factors other than future revenues. Measuring innovation is another key issue, which organizations can improve by using metrics that are actionable, as well as performance metrics.