Ideas Are Not Enough. What's Your Innovation ROI?

Innovation is a must-have for businesses today, with innovative companies enjoying a significant advantage over their legacy competitors in terms of market capitalization. However, the field of innovation management is still in its preliminary stages, with practitioners increasingly expected to use data for decision-making. To achieve better innovation decision-making and demonstrate the success of their programs with solid ROI metrics, organizations must focus on monitoring metrics such as talent, teams, projects, pipeline, innovation culture, and innovation system as leading indicators, in addition to outputs such as revenue and profits.