13:00:46 From Bankwalla, Viraf To Everyone: Will this be recorded ? 13:01:22 From Bankwalla, Viraf To Everyone: How to demonstrate value 13:01:22 From Corey Radloff To Everyone: straight-jacket 13:01:23 From Luis Angarita - InD Program Head at ASU To Everyone: Results 13:01:25 From Jason Haney To Everyone: Innovation Accounting 13:01:27 From Liza To Everyone: pipeline 13:01:29 From Tieka Blow To Everyone: outcomes 13:01:33 From Heather Wishart-Smith To Everyone: ROI 13:01:34 From Stuart Laws @ Idea Shadow To All Panelists: cottage industry 13:01:35 From Meredith Boone To Everyone: goals 13:01:42 From Sara Stabelfeldt To Everyone: designed for core business...not actual innovation 13:01:46 From Chris Meyer To Everyone: guideposts 13:01:47 From Irwin Jankovic To Everyone: motivation 13:01:48 From Michael Powell To Everyone: Impact and Value 13:02:01 From Mariella To Everyone: The CTM Innovation vs. Renovation , Mariella Milan Italy 13:02:12 From John Parello To Everyone: Bookings 13:02:58 From Mehdi Afshari To Everyone: Rate of success among projects 13:03:47 From IL Team To Everyone: Everyone, welcome! Thanks for joining us! 13:03:53 From Simon Hill @ Wazoku To All Panelists: We work under two brands www.wazoku.com and www.wazokucrowd.com 13:04:00 From IL Team To Everyone: Please take advantage of Zoom's Q&A feature and this chat to share questions and comments with us. We will address them as we go and also at the end. 13:04:04 From Simon Hill @ Wazoku To All Panelists: Great to meet everyone! 13:04:42 From Simon Hill @ Wazoku To All Panelists: oops@ 13:04:51 From Simon Hill @ Wazoku To Everyone: Hi everyone, nice to meet you all 13:05:39 From Simon Hill @ Wazoku To Everyone: We operate under two brands: 13:05:48 From Simon Hill @ Wazoku To Everyone: www.wazoku.com and www.wazokucrowd.com 13:06:05 From Iliriana Kacaniku To Everyone: change 13:08:42 From IL Team To Everyone: Everyone, welcome! Thanks for joining us! 13:08:53 From IL Team To Everyone: Please take advantage of Zoom's Q&A feature and this chat to share questions and comments with us. We will address them as we go and also at the end. 13:12:01 From Luis Angarita - InD Program Head at ASU To Everyone: I have been in many meetings about metrics in innovation, and there's definitely a lack of consensus. Everyone defines a different metric according to their understanding. It seems that there's not a solid agreement on the basics, mainly because we often confuse innovation with creativity and invention. 13:14:51 From Jillian White To Everyone: Can we hear from those who are optimized and accessible? 13:16:58 From Hugh @Kimberly-Clark To Everyone: Inno metrics are mostly perfunctory amd a way to show that you’re busy. The most important metrics are built into each pilot, eg sales, loyalty, 1PD 13:20:00 From Mariella To Everyone: I have used a no. of innovation matrix in my previous role as such as - No. of Ideas vs project launch - Time to market - Project above or below 3yrs iTO threshold - No of projects per Project Leader -Project delivered OTIF (On time in Full) and Others along these lines. 13:20:03 From John Parello To Everyone: The biggest risk I have to our innovation programs is the churn in leaders! Being in the optimized and accessible metrics group has helped to navigate it. But the risk is still hi 13:20:14 From John Parello To Everyone: high 13:23:29 From Hugh @Kimberly-Clark To Everyone: 1st Party Data 13:24:13 From Sara Stabelfeldt To Everyone: In innovation, we often talk a lot about metrics of #ideas, flow of ideas, revenue, etc. We also have innovation as a capability and find an important metric is engagement of the business. Repeat rate or net promoter score of the innovators within the business. 13:27:31 From Rachel Gordon To Everyone: Maybe we’ve already mentioned this? but it’s Activity vs Impact. The business is really not that interested in activity, they are waiting for the impact metrics 13:28:18 From Ken To Everyone: A challenge we're facing is getting P&L leaders to be comfortable with revenue and profit attribution for the Innovation team so that we can share how our innovations are impacting the bottom line 13:28:49 From Bankwalla, Viraf To Everyone: I use return so that it accounts for cost savings and/or revenue 13:29:19 From Heather Wishart-Smith To Everyone: @Rachel Gordon, yes. I always made sure we set our KPIs at each stage gate at the time of approval. Otherwise you end up with a subjective review that tends to reward effort vs. outcome. 13:30:10 From Sara Stabelfeldt To Everyone: Revenue or efficiency gain over what time horizon? Transformational innovation vs. Sustaining innovation 13:31:37 From marknitkey To Everyone: Agree. What is critical is to minimize the “shotgun†approach. Determine with leadership what the most critical initiative(s) that will drive consumer engagement which leads to business growth and revenue. In my experience; IRR, Cost avoidance and Cost reduction drive decisions/acceptance. 13:35:25 From Mariella To Everyone: You have to have a business case for each project in the funnel as well, especially on Incremental Turnover 13:38:01 From Mehdi Afshari To Everyone: can we have list of metrics both financial and non-financial (copy of two slides)? 13:38:40 From Sebastien To Everyone: Sorry. Joigning late. What about “vitality rate†. We used to track this in the company I worked with. Any take in this one? 13:38:55 From Luis Angarita - InD Program Head at ASU To Everyone: agreed (will be very useful to have a list of metrics) 13:39:00 From Mariella To Everyone: Which are then the main KPI that you will recommend to measure in an innovation Matrix from your experience? 13:40:01 From Longzhen Han To Everyone: What effective ways are folks using to measure / track these metrics? Surveys? 13:40:16 From Matik Nicholls To Everyone: The question is the who... who is a particular metric important to. If your revenue generation is low then you absolutely need the other metrics to know where to focus efforts. Is it lack of engagement? Is it lack of a particular type of innovation? Is it that idea are sticking in a particular phase? 13:41:06 From Bankwalla, Viraf To Everyone: Would be great to share the chat with the recording. 13:41:21 From Mehdi Afshari To Everyone: If we consider innovation a capability not function, then we probably need to measure creativity/innovation across different segments (supply chain, sales, product management, R&D, merger & acquisition, etc.). 13:42:56 From Bankwalla, Viraf To Everyone: Do you use an innovation maturity capability model to define what is important to your organization and then drive metrics off that ? 13:45:05 From Matik Nicholls To Everyone: Good point Viraf… because if you are just starting up, the $ results will low... So you need to use other metrics. 13:47:21 From Miles To Everyone: Do you ever use opportunity cost to evidence losses (revenue, market share, margin) to show the trade offs if one alternative program is chosen when stakeholders maybe don’t have wider visibility of the implications? 13:47:45 From John Parello To Everyone: Did I get you right “Central team that decentralizes innovation across the company†13:47:49 From John Parello To Everyone: That’s cool! 13:48:04 From Simon Hill @ Wazoku To Everyone: Yes! 13:48:32 From John Parello To Everyone: Thanks my new sound bite in story telling !! I’ll quite you :) 13:48:37 From John Parello To Everyone: quote 13:49:31 From Stuart Laws @ Idea Shadow To All Panelists: In simplistic terms, the central decentralised approach is how Defence does it 13:50:00 From Mariella To Everyone: Exactly having a repository tool from where to enter data and extract metrics in fundamental 13:51:08 From Simon Hill @ Wazoku To Everyone: Thanks @John Parello 🙂 13:53:35 From marknitkey To Everyone: The issue in many organizations is that centralized innovation teams - whether they have created enterprise wide tools or not, typically are not given authority to direct other cross functional areas, and those areas do not have bandwidth beyond running their business or the expertise. Innovation leaders need to be tied at the hip to C-Suite to drive results. 13:54:00 From Longzhen Han To Everyone: 100% ^^^ 13:54:11 From Robyn Bolton To Everyone: 100% @marknitkey! 13:54:19 From Chris Meyer To Everyone: Exactly! 13:54:33 From IL Team To Everyone: For more information about InnoLead Impact (October 25 - 27 in Boston, MA): https://www.innovationleader.com/impact/ 13:54:35 From Bankwalla, Viraf To Everyone: To help what we (innovation CoE) does is identify those ideas with broad applicability and raise it up at the corporate level 13:55:05 From Simon Hill @ Wazoku To Everyone: tie them at the hip to core, shared business OKRs 13:55:48 From Curato, Christina Rollins To Everyone: Data is dated. Data is only valuable if it dives future projections and strategies which might in itself be limited. Innovation needs to measure learning. Huge efforts on data management might not get you closer to innovation... are efforts better placed somewhere else? "Skate to where the puck is going to be, not where it has been." Wayne Grestzky 13:56:16 From Mariella To Everyone: Right fewer metris measured in a given moment in time 13:56:20 From Iliriana Kacaniku To Everyone: So well said Mark. I’ve recently observed that very often organizations, especially smaller ones, have no innovation absorption capacity, even if those organizations may have been established around very innovative product. 13:56:26 From Scott @ InnoLead To All Panelists: Let’s try to squeeze in this last q if we can…â€Do you ever use opportunity cost to evidence losses (revenue, market share, margin) to show the trade offs if one alternative program is chosen when stakeholders maybe don’t have wider visibility of the implications?â€