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Can you measure innovation?

Oliver Guy
By Oliver Guy - February 3, 2021

SAG_Measuring_Innovation_880x440px_Jan21Measuring innovation is not an easy task, but if you use patent applications as a yardstick you can see that Amazon is miles ahead.

In 2019 it registered over 2,500 patents – as a comparison Walmart registered around 400.

This level of disparity probably explains why only 6% of business leaders are happy with the innovation performance of their business. Yet 84% of these leaders see innovation as key to driving growth. Many of these say their current business models are at risk.

Creating new business models is essential for digital transformation – 60% of companies that have undergone a digital transformation have created new business models. Availability of new technologies like AI and IoT should make innovation easy – but this is clearly not the case. And without innovation, creating new business models – and hence new revenue streams – can be extremely challenging.

How do you encourage innovation within your organization?

Imagine giving the teams in your organization the power to explore new ideas, to innovate by experimenting with new technologies, like using IoT to connect the physical and digital worlds. This would mean you could liberate the creativity that already exists within your organization and nurture a culture of innovation. It may well help increase executive confidence in innovation performance, while helping you out-innovate your competitors.

This type of creativity requires connectivity; you need to connect to any device rapidly and seamlessly, hosted in any cloud, while allowing easy, secure access to enterprise systems.

These capabilities are uniquely available from Software AG. In this video you will see an example of how a small Software AG team applied this spirit of innovation to brewing the perfect cup of coffee.

If you want your teams to:

  • Unleash their innovative spirit.
  • Experiment with new technologies without incurring any costs.
  • Be confident that anything they develop will be both secure and easy to scale to a production environment.

…then start your free trial of Software AG’s Cumulocity IoT platform below.

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Integration & APIs, Retail, IoT

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