Measuring Innovation: The Key to Open Innovation Success

How do you measure the impact of an idea? It’s a question that many organizations struggle with when running open innovation (OI) programs. While OI can generate breakthrough solutions and new opportunities, proving its value requires clear and meaningful metrics. Without them, it’s difficult to demonstrate return on investment (ROI) and justify continued investment in external innovation efforts.

A new opinion piece from Wazoku explores the essential metrics that organizations should track to measure the success of their open innovation programs. Download the full Opinion Piece to gain deeper insights into how businesses can quantify the impact of OI initiatives.

The Value of Ideas and Solutions

One of the most important factors to measure is the value of the ideas, prototypes, and solutions sourced through OI platforms. Organizations that leverage global talent pools can solve complex challenges more efficiently and at a lower cost than traditional R&D efforts.

For example, Wazoku Crowd customers have successfully identified and implemented innovative solutions that would have been difficult or expensive to develop internally. Every idea contributed is more than just an isolated suggestion—it represents a strategic asset that can enhance internal processes and business strategies.

The Value of Time Saved by Internal Teams

Innovation isn’t just about generating new ideas—it’s also about accelerating R&D and freeing up internal teams to focus on core business objectives. By outsourcing problem-solving to external innovators, companies can conduct more experiments, fail faster, and make quicker decisions about which ideas to develop further.

Take Johnson Matthey, for example. Through Wazoku Crowd, they sourced potential market opportunities for their platinum metals segment. Open innovation allowed them to gather thousands of insights from global experts, enabling internal teams to focus on refining and executing the most promising use cases.

The Value of Time Contributed by Participants

A frequently overlooked but crucial metric is the time invested by external innovators. Crowdsourcing enables organizations to tap into expertise far beyond their internal capacity. NASA, for instance, conducted an open innovation challenge with Wazoku Crowd that generated 82 months’ worth of work from participants in just 45 days. The cost savings and efficiency gains from this level of engagement are impossible to ignore.

Why Measuring Innovation Matters

Tracking the right metrics—such as the value of solutions, time saved internally, and time contributed by participants—ensures that open innovation programs remain a strategic asset. Without these measurements, it’s difficult to scale and optimize OI efforts for long-term success.

Want to learn more about how to effectively measure open innovation? Download the full opinion piece and discover how leading organizations are proving the value of their innovation programs.

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