Benchmarking & KPIs - how to keep your program healthy and know when it's performing well

The article discusses the significance of analytics in innovation management and why it is not taken seriously enough. The author emphasizes the need for meaningful indicators to base judgments on while choosing the right KPIs. The definition of KPIs and their importance in informing about the business's Critical Success Factors is explained. To choose the right KPIs, the article recommends defining the goals and ambitions of the organization first. The article discusses which KPIs to focus on and which ones to avoid, as well as how to benchmark innovation performance. Internal benchmarking and monitoring performance continuously are recommended for a healthy innovation program. The article concludes by summarizing the key recommendations for innovation managers.