To manage innovation, its success potential, and make educated decisions on innovation finance, executives need even more profound data compared to known and tried procedures. Genuine innovation consumes a significant amount of capital with initially no way of knowing the outcome, most innovation attempts will die before they could start.

The complexity of the innovation process of typically 3 to 5 years requires unique strategies and tactics. The BlueCallom experts decided to break one important rule about KPIs: Don’t use more than 10 otherwise it will be too confusing. But to build a predictive model thousands of data points needed to be considered and funneled into roughly 300 KPIs. Yet, this is indeed not what KPIs were created for in the first place.

A new KPI-Framework was the solution. Without Drucker’s work, this would have been impossible. Approximately 20,000 data points feed information in real-time into this KPI framework that consists of 7 classes of KPIs and a total of 340 individual performance indicators. The result is what is known as the “mother of KPIs”: a single KPI: The Innovation Success Indicator. This one KPI indicated the probability of success for innovation in the making. Today all this is possible thanks to AI and its powerful algorithms to predict an outcome with impressive accuracy. Obviously, there is always a remaining risk, and even that is part of the algorithm we developed.