Measuring Innovation: More Than Just Counting Beans

Welcome, fellow adventurers in the quest to measure the unmeasurable - innovation! Strap in, because we're about to dive into the wild world where traditional metrics tiptoe and innovative measurements breakdance.

Why Traditional Metrics are the 'Meh' of Innovation

So, imagine using a ruler to measure the wind - that's how traditional metrics size up innovation. They're like trying to capture a butterfly with a fishing net - sure, you might get something, but you miss the grace, the flight, the essence of what makes innovation flutter.

1. Metrics That Don't Get the Full Picture:

Think about it - revenue growth or market share are like looking at the tip of the iceberg and saying, "Yup, that's all there is." They miss the cool, underwater innovations brewing beneath the surface.

2. They're the Rearview Mirror in a Fast Car:

Lagging indicators, huh? They tell you where you've been but not where you're going. It's like driving while staring at the odometer; you'll miss the next turn, and suddenly, you're not innovating, you're lost.

3. Risk Aversion Metrics:

Some metrics whisper, "Play it safe, champ!" They're like the overprotective parent of innovation, saying, "Don't try that, it might not work!" But hey, Edison didn’t invent the light bulb by staying in his comfort zone!

Innovative Measurements: The Spice in the Innovation Soup

1. The Innovation Index:

It's like making a stew with all the good stuff - patents, employee excitement, collaborations, and the fresh zing of new product revenue. Now that's a recipe for innovation success!

2. Idea Funnel Metrics:

Counting the ideas going into the funnel and seeing how many pop out the other end - it's like tracking popcorn kernels and marveling at how many turn into fluffy, delicious bites of innovation.

3. Risk-Taking Metrics:

Want to measure courage? Try looking at how much an organization is willing to throw at experiments or how often they high-five failure as a badge of honor. That's the spirit of the innovator!

Data and Stats That Make You Go "Hmm"

Studies and Reports:

• The Global Innovation Index by WIPO – the treasure map to innovation gold, beyond just economic indicators.
  

• "The Innovator's DNA" by Dyer, Gregersen, and Christensen - it's like the innovation bible, showing how the cool kids measure and nurture creativity and innovation.
  

TED Talks and Vlogs That Make You Snort with Laughter and Insight:

• TED Talk: Tim Harford - Trial, Error, and the God Complex - because even innovation can be a comedy of errors.
  

• TED Talk: Linda Hill - How to Manage for Collective Creativity - where managing creativity meets the funky dance of innovation.

In Conclusion: Dancing to the Beat of Unmeasurable Innovation

So, let's embrace the crazy, the unquantifiable, and the brilliantly bizarre in the realm of innovation measurement. Because, hey, if we could measure creativity, we'd probably find a formula for making unicorns too!

Remember, innovation is not just about counting; it's about daring to dream, to fail, and to imagine beyond the rulers and scales of traditional metrics.

Now, go forth, measure the unmeasurable, and may your innovation metrics be as wild as your ideas!