How to Create Your Live Innovation Radar in 5 Simple Steps

"The best way to predict the future is to create it".Alan Kay, computer scientist

But, what should be at the top of your innovation agenda?

How do you prioritise what to build or invest in among all the promising opportunities?

While organisations agree on the great potential of AI for innovation management, there is no "one-size-fits-all" implementation approach.

Here is how you can enhance your scouting and prioritisation methods with an Innovation tool powered by real-time information and workflows.

How to Build Your Innovation Radar in 5 Simple Steps

1. Define your Scope and Scouting Universe
2. Create a Knowledge Database
3. Approaches to Innovation Scouting
4. Prioritize Opportunities With Quantitative Methods
5. Measure and Evaluate Performance

Read the step-by-step guide here.

You can use this methodology to monitor technological advancements that create innovation opportunities and select those that are better aligned with your goals and expertise.

Bonus: you can automate repetitive steps and time-consuming parts of this workflow with no-code tools like zapier or use Machine Learning and NLP.

Recommended Tools for Building an Innovation Radar

• APIs from data providers, such as the WIPO, or Google Patents for data.
• Web Scraping Tools (e.g., Python with Beautiful Soup, Scrapy): To help you collect data from websites and news sources.
• Social Listening Tools (e.g., Brandwatch, Mention): To capture discussions around innovations.
• RSS Feed Readers (e.g., Feedly): To keep up with news and articles in real-time.
• Collaboration Platforms: Slack, Microsoft Teams, Notion, Miro.
• Data Analytics and Visualization: Tableau, Power BI, Excel.
• Innovation Management Tools: IdeaScale, Brightidea, HYPE Innovation.

That’s a wrap! I hope you found this useful.