Intelligent KPI-Framework for Innovative Minds & Executives

90% of innovation engagements fail. Not because they are bad but because they lack of an indication whether they can be successful or not.

Innovation is like sailing. You can't cross an ocean step by step - and therefore you need to have a goal, a strategy, and a plan for the whole journey before you even leave the harbor. The KPI framework will become your GPS and Chartplotter for your innovation journey, The intelligent KPI-Framework for innovative Minds & Executives is a quantum leap in innovation management. As Peter Drucker, the father of Business KPIs said, only what you can measure you can manage. Building on top of his foundation from the 1960s is an entirely new framework supported by AI and discoveries from neuroscience.

CREATIVE MINDS

As an innovation team member, you most likely get frustrated to spend a lot of your creative time with administration, reporting, budget and time management, feeding KPIs, and more.

How about getting an assistant that does all that for you? Even better everybody in your team gets their own assistant, reminding them of meetings, writing the reports for them, feeding KPI data wherever they are needed, asking to review certain research or validating ideas from teammates, and much more. Impossible? How about an AI-based assistant that does all that for you as part of an AI-driven innovation management solution?

EXECUTIVES

As an executive, you can't make an educated decision whether or not to invest in any breakthrough innovation as long as you have no validation, innovation process KPIs and indicators that this idea is better than what exists already.

How about getting performance indicators from the innovation team that can track ideation performance, make idea validations with customers, analyze competitive situations, indicates whether it is supporting your thought-leadership, market leadership, and matches your corporate strategy?

INNOVATION MARKET DYNAMICS & NEURO INNOVATION DIFFUSION

Researching innovation from startups and enterprises for the past 50 years, there are a few critical market dynamic data to take into consideration: Innovation Diffusion.

In 1962, Everett Rogers put together a "theory that seeks to explain how, why, and at what rate new ideas and technology spread". Back then, the biggest trouble was finding an average timeline for innovation. Today, 60 years later, we have data from more than a million startups and over 1,000 unicorns. In addition, we have the early innovation story of companies that are global enterprises today.

Exploring Facebook, Nespresso, Microsoft, Tesla, ThermoMix, and hundreds of breakthrough innovations, we saw a rather clear pattern: it took between 8 and 20 years to make those innovations to global leaders.

Innovation takes 8 to 20 years

to dominate a market

An innovative solution creates initial success stories within 1 - 2 years. It is the market and a large number of conservative business leaders that make innovation take longer than most people think.

THE BIGGEST FAILER IN INNOVATION

By far the biggest mistake a business leader can make is not innovating due to the time it takes. That time gap of three to five years of the innovation growth period cannot be covered later on. This is why the big leaders are considered years ahead and they maintain that distance at almost any cost. Latecomers will rush to copy and when copying they become followers and determine the new leader by doing so. And even a better copy is not an innovation. The Mercedes of the automobile industry became a follower. And by doing so they helped define the new market leader.

INNOVATION JOURNEY MAP

Now since we covered the basics and the average time it will take, let's look at the details and see successes far earlier. The innovation creation process is approximately one year. Innovation to market, including exponential growth, takes still 5+ years until a solution can scale globally. But already in year three, we can see a serious uptake in innovation development.

To measure what is really going on and whether it goes in the right direction we need a strategy. Each of those bullets on the innovation journey, we call episodes. Each episode is independent yet highly connected and can generate hundreds of data points in its making. It is like a stage-gate process but with added flexibility to become a non-linear process. The data e capture can be used for predictive models and indicate even in a relatively early stage if an innovation can be successful over time.

The Innovation KPI-Framework needs to be designed to take all innovation and creation-relevant data points into consideration, plus all research and all customer validation feedback. The BlueCallom Innovation KPI-Framework for instance uses approximately 20,000+ data points and indicators to learn from the innovation activities if an innovation may end up being successful.

KPI Pyramid

To process 20,000 data points and correlate data with related data, we need a lot of algorithms. At first, we group data into clusters. Then created a multitude of KPIs - far more than a human would be able to comprehend and make sense of it. Using deep reinforcement learning we get to a single KPI - the mother of all Innovation KPIs: Innovation Success Indicator in %. It indicates between 1 and 98% whether an innovation journey will be successful.

Linear versus Lateral KPI Management

An added complexity in Innovation KPIs is the fact that innovation is a non-linear or lateral process. There is no step-by-step development. Yet also laterality has its rules, if only we recognize them. Again, our ingenious innovation team follows lateral thinking without even noticing it. But a linear KPI model would crash in a heartbeat. With a KPI-Framework however, we can handle the laterality very well..

INTELLIGENT INNOVATION WORKSPACE FOR CREATIVE MINDS

Most Innovation Management Systems use sticker-type digital spaces to allow teams to brainstorm online. BlueCallom is no different. Yet we went away from brainstorming and we use neuro ideation - and the digital stickers collect ideas, feedback, research, and more. Each sticker is like a neuron, an intelligent processor on its own. Each sticker can be used for idea confluence with others, stickers can be rated and evaluated. Each sticker feeds several KPIs simultaneously and automatically in the background. Now, this is just the beginning. You can probably already imagine how we think and where this is taken.

EXECUTIVE DASHBOARD

By making innovation predictable we eventually took a top-down approach. After achieving the goal of having a single KPI we looked at the underlying data and selected Key Performance Indicators that are interesting in managing and comparing multiple teams from around the world. Most of our customers have dozens if not hundreds of innovation teams and want to know what the more successful do differently. It starts with team quality and level of diversity, research that was conducted, idea contribution, idea quality and confluence, idea validation, customer feedback, and more.

To sum it all up.

Innovation is the most challenging discipline in the business world. It takes far more than hiring a bunch of students to create ideas or just buying a few startups to get to innovation. The Innovations Paradigm is a world on its own. To master, it takes tools that help our brain look through the entire innovation journey and not just a segment. Intelligent KPI-Framework for Innovative Minds & Executives is a great way t get the innovation engagement under control. You can't cross an ocean step by step - and therefore you need to have a goal, a strategy, and a plan for the whole journey before you even leave the harbor.

What is your biggest challenge in innovation?

EVENTS

This Tue, Apr 5, we are announcing the new KPI-Framework in an online event. Or see us in Copenhagen at the Innovation Roundtable Summit May 10