20. Innovation Quotient
Predictive Innovation allows you to map the entire idea space for a concept. This means you can calculate the percentage of the idea space open for innovation or covered by your design. That percentage is the Innovation Quotient. A perfect Innovation Quotient is 100%.
The simple version of the Innovation Quotient is:
This allows you to compare the potential of two different idea spaces or two different approaches to address an idea space.
The simple version is good for getting a quick-rough estimate of the innovation potential of a market or design. The more detailed approach to calculating the Innovation Quotient can:
- quantify risk
- compare the value of different designs
- calculate depreciation for an innovation
Innovation Quotients are beyond the scope of Core Skills and are only mentioned to make you aware of additional capabilities of Predictive Innovation.
Attend a Predictive Innovation class to learn more about creating business models, designing strategies, and calculating advanced Innovation Quotients.
|Chapter 19||Chapter 21|