1 min read

⏱ Proper innovation KPIs

⏱ Proper innovation KPIs
Photo by Miguel A. Amutio / Unsplash

I've been heavily involved in defining an innovation KPI strategy for two very large industries in Europe these last months. You might assume it's quite a drag; it's anything but. Defining KPIs for innovation is the final touch of defining strategic priorities, framing a proper innovation portfolio, aligning disjoint historic innovation initiatives, and working on the cultural perspective on success.

So when I saw this graph a few days ago, I knew it was worth mentioning as a fantastic example of what are proper innovation KPIs ⤵️

Source: Ember

To be clear, I don't know if the information is 100% correct, but if you assume it is, why is it such a good innovation KPI?

Five reasons:

  1. It's looking forward to a clear problem to be solved (for cars to become 'clean' when needed to achieve energy grid CO2 neutrality).
  2. It takes only a single striking example to illustrate a vastly complex reality (it's very smart because the Tesla Model 3 is at the same time ahead of the EV curve but also quite representative of this niche).
  3. It gives a practical measurement that anyone can relate to (a kilogram, not tons) and visually understand (not gigawatts).
  4. It gives a simple baseline (the thermic 'ICE' vehicle) and already shows that not all progress is that worthwhile.
  5. It can be put in dynamic mode very easily (how many km will we gain or lose if we opt for this or that modification in a given national energy mix?).

Building innovation KPIs is about walking many fine lines. What would be your get-go measurement in your industry?