False positives, false negatives, and other innovation ghosts

The article explores the issue of errors in assessing the potential outcome of innovation projects, specifically false positives and false negatives. False positives occur when something looks good on paper but does not work in practice, while false negatives occur when a promising idea is discarded. Understanding how false positives and false negatives happen is crucial for organizations, as it can improve their decision-making processes. A periodic review of the innovative product/service portfolio’s evolution can be useful, as well as constructing methods for data pooling and publishing. By learning from the mistakes made in false positives and false negatives, organizations can pave the way towards innovation success.