Six months ago, we embarked upon an ambitious project to provide retailers with a fact-based data source that helps them gain instant access to the diverse "Innovation" capabilities of tech companies. This innovation benchmark platform termed as an index assists retailers in addressing consumer and market disruptions. Earlier this year, we had first announced it here.
After a few months of rigorous and objective effort, we recently released the Retail Technology Innovation Index. Our research reveals that 6 in 10 retail CEOs take direct onus in making decisions regarding innovative or disruptive technology. 4 in 10 retailers rely on their CIOs, and a third give the onus to CMOs to deliver the goods when it comes to implementing innovation programs and related technologies.
Produced by our research solutions group, this Index represents an algorithm-based, 12-Innovation key performance indicators (KPIs), 0-to-100 point index of the most innovative technology companies (Enterprise, Best-of-Breed and Start-Up) that are advancing retailers’ businesses towards the most modern and inventive retail processes.
The Index is a comprehensive assessment of leading retail technology providers’ innovation capabilities. The Innovation Index helps retailers decide which technology companies they should be investing their time and effort in to roll-out customer and business innovation initiatives. Updated quarterly, the Index is not a ranking but does provide innovation metrics associated with each company identified, researched and scored across several key criteria.
Designed to transparently and objectively measure the performance of over 450 meticulously selected companies and provide clients with differentiated insight, the Innovation Index scores subjects according to 12 KPIs under four overarching pillars: Product, Performance, Ecosystem and Organization. Only companies with scores across all four pillars are assigned an overall score (the average of the pillar scores) from zero to 100. The top 75 companies with the best overall scores were selected for the Index. The plan is to expand the Index to 100 companies beginning in 2019.
Companies’ individual innovation scores, along with performance by innovation pillar, are provided in the report. To download the full report or to learn more about how to leverage the Index (including methodology, fact sheet, etc.) click here. To discuss your company's inclusion in the next Innovation Index please contact: Sahir Anand, Index Architect and Managing VP Research or Jesse Casselberry, EnsembleIQ’s Director of Enterprise Solutions/Technology Practice, at [email protected]