Innovation ROI Best Practices

OVERVIEW: Many companies struggle to measure their innovation return on investment (ROI). ROI is complex and innovation has many inputs, outputs, stakeholders, and milestones. While it is not feasible to have measurements down to the exact dollar, companies need to have a solid understanding of their innovation spending, investments, and ROI to be able to manage, predict, and finance their innovation efforts. We undertook a research project to uncover commonalities and best practices for managing innovation ROI.