InnovationIQ is a powerful metric designed to provide organizations with a single, comprehensive score that evaluates their innovation capability. This FAQ covers how to generate, use, and interpret InnovationIQ scores for polls or companies.
What is InnovationIQ?
InnovationIQ is an index score (0–100) that measures an organization’s innovation capability. It aggregates data from polls and organizational metrics to provide an objective benchmark for innovation.
The score can be used to:
Track innovation progress over time.
Facilitate discussions with clients about capability improvement.
Serve as a performance indicator for repeat assessments.
How is the InnovationIQ score calculated?
The score is derived from an algorithm that considers multiple factors, including:
Aspect Averages: Up to 72 points, calculated from the average scores of the 16 aspects of the Wheel of Innovation. The score is adjusted based on standard deviation.
Leadership Styles: +5 points if the company demonstrates more than one leadership style.
Engagement in Innovation: +7 points if over 80% of respondents are involved in innovation activities.
Innovation Strategies: +5 points if the company uses more than one innovation strategy.
Focus: +7 points if the organization has a clear focus on profit or market share.
Innovation Types: +0 to 6 points based on the number of innovation types used (2 points per type, maximum 6 points).
These components combine to provide a score ranging from 0 to 100.
What are the prerequisites for generating InnovationIQ?
To generate an InnovationIQ score, the following conditions must be met:
Minimum Number of Respondents:
10 respondents for small companies (<50 employees).
15 respondents for medium-sized companies (50–500 employees).
30 respondents for large companies (>500 employees).
External Respondents: At least two external respondents must participate in the poll.
Can InnovationIQ be generated for a poll?
Yes, InnovationIQ can be generated for a specific poll. To enable this:
Go to My Clients in My360.
Navigate to the poll for which you want to generate the score.
Tick the box labeled “Generate InnovationIQ” under the poll settings.
Ensure the poll meets the prerequisites mentioned above.
If the conditions are fulfilled, the InnovationIQ score will be calculated automatically every 24 hours after the poll closes.
Can InnovationIQ be generated for a company?
Yes, InnovationIQ can also be generated at the company level, aggregating data across multiple polls. If the organization meets the criteria for respondents and data completeness, the score will be automatically calculated every 24 hours once the prerequisites are met.
How do I interpret the InnovationIQ score?
The InnovationIQ score provides a comprehensive snapshot of an organization’s innovation capabilities:
0–25: Low innovation capability. Significant gaps in processes, leadership, and strategy alignment.
26–50: Moderate capability. Some innovation practices are in place but require improvement.
51–75: Strong capability. Innovation processes and leadership styles are well-developed.
76–100: Excellent capability. The organization demonstrates exceptional alignment of strategy, leadership, and innovation practices.
What are the benefits of using InnovationIQ?
Simplifies Discussions: Use a single score to facilitate conversations about innovation capability without diving into granular details.
Benchmarking: Compare scores across organizations, industries, and regions.
Actionable Insights: Identify areas for improvement based on the components of the score.
Progress Tracking: Use the score as a key performance indicator (KPI) for repeat assessments.
Does InnovationIQ include external benchmarking?
No, the InnovationIQ score is calculated based on internal data from the poll or organization. To compare scores against industry benchmarks, use the benchmarking tools available in My360.
What happens if the prerequisites are not met?
If the minimum number of respondents or external respondents is not reached, the InnovationIQ score cannot be generated. In such cases, you can:
Encourage additional participation to meet the criteria.
Adjust the poll scope and re-evaluate.
How do I present the InnovationIQ score to stakeholders?
InnovationIQ is designed to be presented as a high-level metric, simplifying discussions about innovation capability. Use the following approach:
Share the score range (0–100) and explain its meaning.
Highlight the improvement opportunities based on score components (e.g., leadership, strategy, engagement).
Use visuals, such as the Wheel of Innovation, to provide context if needed.
Keep the details of the calculation optional—only dive deeper upon request.
Is there a badge or certificate for InnovationIQ?
Yes! Once an organization generates an InnovationIQ score, they may receive a badge and dedicated webpageshowcasing their innovation capability. This is useful for external branding and stakeholder communications.
Can I use InnovationIQ to compare different companies or polls?
Yes, InnovationIQ can be used to compare:
Different polls within a company.
The same company’s performance over time.
Multiple companies, provided they meet the same criteria for generating the score.
Can the InnovationIQ score be recalculated after the poll closes?
No. The score is finalized based on the data collected during the poll. However, scores are automatically recalculated every 24 hours if new eligible data is added within the allowed timeframe.
Are there any best practices for improving InnovationIQ?
To achieve a higher score:
Increase engagement: Ensure more than 80% of respondents are involved in innovation activities.
Adopt diverse leadership styles: Incorporate leadership approaches that encourage innovation.
Define clear strategies: Focus on profit, market share, or other strategic goals.
Broaden innovation types: Include multiple types of innovation (e.g., product, process, service).
How long does it take to generate the InnovationIQ score?
The score is generated automatically every 24 hours once the poll closes and all prerequisites are fulfilled.