Innovation Metrics - A Whole-Brain Strategy

Developing a metrics strategy for innovation is essential for businesses, but it can be a challenging endeavor. The whole-brain approach involves capturing both quantitative and qualitative metrics, matching numbers with stories, images, and other insights for a more complete picture of performance. There are three different types of metrics to consider: Culture Metrics, Process Metrics, and Return-Based Metrics. The Culture Metrics measure how solidly an innovation effort has taken hold, while the Process Metrics measure systematic innovation activities, and Return-Based Metrics measure ROI, ROC, or new products/services as a percent of sales. However, augmenting quantitative measures with qualitative elements such as success stories, learnings and customer comments is critical.