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Toivo Mwaala
Apr 9

When measuring innovation, what are the metrics used?

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Apr 9
There are several metrics that can be used to measure innovation, including:

1. Number of new products or services introduced: This metric measures the quantity of new offerings that a company has brought to market.

2. Revenue from new products or services: This metric measures the financial impact of innovation by looking at the revenue generated from new products or services.

3. Number of patents filed: This metric measures the number of new inventions or ideas that a company has protected through the patent process.

4. R&D investment: This metric measures the amount of resources that a company is dedicating to research and development activities.

5. Time to market: This metric measures the speed at which a company is able to bring new products or services to market.

6. Customer satisfaction: This metric measures how satisfied customers are with the company's innovative offerings.

7. Employee engagement: This metric measures how engaged and motivated employees are to contribute to the company's innovation efforts.

8. Market share: This metric measures the company's share of the market for its innovative products or services.

9. Return on investment (ROI): This metric measures the financial return that a company is getting from its investment in innovation.

10. Collaboration and partnerships: This metric measures the extent to which a company is collaborating with external partners to drive innovation.

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