ABSTRACT
The scope of innovation analytics and new product development analytics has greatly expanded with the advent of “big data,” which is a collection of structured and unstructured data from multiple sources inside and outside organizations. This chapter focuses on innovation analytics as a critical success factor for successful innovation. Analytics is a differentiator, to turn challenges to opportunities depending on how organizations and managers transform data and its analytics and information. Three levels of analytics capability emerge at a managerial level: operational, experienced, and transformed; each has a distinct use of stages of analytics adoption. Leaders do not just embrace analytics and actionable insights; they offer innovation of new developments that exceed the customers’ needs. It is the data foresight of how the company wants the future to be by promoting excellent data quality and accessibility lab to build a qualitative and quantitative innovation culture by embedding innovation and analytics as part of every role.
