As technology evolves, particularly artificial intelligence (AI), and our processes and systems become more integrated with it, we are gaining more insight into our businesses and our organizations than ever before. Just as the advent of the Internet led to what has been referred to as the “information superhighway,” the evolution of technology and artificial intelligence has led to an “analysis superhighway” of virtually every process and structure within our businesses and organizations.
This includes the areas of innovation and the research and development that goes into that innovation. Particularly in this day and age where information travels quickly and advancements occur almost daily, businesses cannot stand still with yesterday’s breakthrough, or they will be potentially out of business by tomorrow because their competition has developed the next big thing through innovation.
Thus, innovation is vital to the survival and growth of a business over both the short and long terms. As a result, it is very important that businesses and organizations develop the processes and systems necessary to be able to continue to innovate at a high level continuously in order to stay with and even ahead of their competition. Like analysis on many processes today, innovation analysis also relies on various metrics to help businesses and organizations determine whether their current processes are effective and what can be changed within them to make them even more effective.
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