8% of organisations use the number of new product launches as a lag innovation metric.
Organisations that are looking to measure their innovation performance often rely on lag indicators. Lag indicators tend to focus on outputs or outcomes, rather than the inputs or activities that lead to those outcomes. One popular lag indicator is the number of new product launches. This metric can be useful for assessing an organisation’s ability to bring new products to market. However, it should not be used in isolation. Other factors, such as the success rate of new product launches, should also be taken into account. Additionally, this metric should not be used as a sole measure of innovation success. As only 8% of organisations use it as a lag innovation metric, it is clear that it is not a universally accepted measure. There are other indicators that organisations can use to assess their innovation performance. Ultimately, the decision of which indicators to use should be based on the specific needs and goals of the organisation.