Innovation Metrics - A Whole Brain Strategy 
Wednesday, March 24, 2010 at 04:13PM
Ralph Kerle in Innovation, Measurement, Metrics, ROI, whole brain thinking

As much as I am opposed to the very notion of metrics in innovation, this article from Michael Brown of Brainzooming offers at least a starting point around the perplexing conundrum of innovation measurement.

Metrics strategy is a vital topic relative to innovation. Despite how important metrics strategy is, it's a challenging one for many businesses when it comes to innovation. Going back through my own experiences and secondary research on innovation metrics, here are a few starting thoughts on developing your metrics strategy:

Begin developing your innovation metrics strategy by determining what factors drive ROI. Specifically identify which factors increase positive business returns and which reduce necessary investment. Starting with the end result in mind will better align the overall innovation effort toward delivering a positive return on investment.

Adopt a "whole-brain metrics" orientation. This means consciously trying to capture both quantitative (left brain) and qualitative (right brain) metrics. Doing so, you satisfy the financial and performance-oriented need for numerical targets and tracking. Adding qualitative metrics into the equation, however, also provides the basis to match the numbers with stories, images, and other insights, providing a more complete performance picture.

Within the whole-brain approach, consider three distinct types of metrics related to innovation:


Innovation Metrics Chart

This is hardly an exhaustive treatment on innovation metrics strategy, but it can be a good starter for expanding what you're doing now. If, however, you're doing more currently on innovation metrics strategy, then please share what's working for you.

Article originally appeared on The Creative Leadership Forum - Collaborate - Create - Commercialise & Transformational Change (http://thecreativeleadershipforum.com/).
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