What it does
The tool produces an innovation score percentage. It attempts to quantify the innovation of your idea beyond a simple ROI. This is helpful if you don’t know the required investment, have trouble calculating the return, or can’t spend the time to run the numbers.
How it works
It takes important questions, such as “Will it enhance our competitive advantage” or “Will it help us tell the WHY story,” and allows you to assign weight to those questions. The team then decides on each question’s rating (1-10). Your output is an innovation percentage or “Innovation Score.” The higher the score the more innovative the idea.
Why it’s valuable
The rating will tell you if your idea is actually innovative or just another idea you had. Not all ideas are innovative for your situation. Its value is also measured in the time you save. Before making the effort to estimate development costs and calculate ROI, you can narrow the idea list down.
Why we created this thing
I was tired of researching innovation calculators and only finding methods which boiled down to graphing an ROI over a period of time. Who wants to estimate their development costs and return for every single idea; only to make assumptions about those numbers over the next 24 months? Not this guy; at least not initially. In the end, I wanted a way to quantify my qualitative information and help narrow down ideas based on their innovative nature.