--- title: How is Your Innovation Strategy Working [Best Practice] description: Learn how to improve your innovation strategy using both our xCelsius dashboards and innovative analysis of the available data. image: https://www.sapbwconsulting.com/hs-fs/file-16561107-png/images/gdp_snapshot.png --- ![xCelsius Dashboards](https://www.sapbwconsulting.com/hs-fs/file-16561107-png/images/gdp_snapshot.png) # How is Your Innovation Strategy Working [Best Practice] Table of Contents ## Why Innovation Matters According an article in the February 7th, 2012 edition of The International Herald Tribune, entitled, “In curing economic woes, innovation matters”, the number of patents filed per country is a very good indicator of their potential ability to improve their economic performance.    ## **We agree**. According to our analysis, we have found a very high correlation between the patents filed per million inhabitants and median household income.  We include the three countries mentioned in the [article](https://www.sapbwconsulting.com/blog/inbound-marketing/how-to-create-a-successful-blog-strategy-a-step-by-step-guide) as well as 3 U.S. states, California, Texas, and Indiana, each of which has unique characteristics we thought were relevant.   | Country/State | Patents Per Million-2010 | Median Household Income (PPP)-2007 | | --- | --- | --- | | Germany | 355 | 21241 | | Indiana | 259 | 48697 | | Czech | 16 | 12596 | | Ireland | 112 | 24677 | | Texas | 319 | 46856 | | California | 807 | 58253 | | Spain | 42 | 18291 |   As you can see, as the number of patents filed per million inhabitants rises, you see a dramatic rise in Median Household Income, no matter how you measure it.    We have even prepared an [xCelsius based dashboard](https://www.sapbwconsulting.com/hs-fs/hub/118735/file-16655140.pdf) for you to use to explore the relationship among the various state's income and patents within the U.S.     ![GDP vs Patents Dashboard](https://www.sapbwconsulting.com/hs-fs/file-16561107-png/images/gdp_snapshot.png?width=343&height=325&name=gdp_snapshot.png) ** GDP vs Patents Dashboard Using Xcelsius**   Want to know how to build an xCelsius Dashboard like this?  You can get started by learning about some **[Dashboard Best Practices](https://www.sapbwconsulting.com/xcelsius-2008-dashboard-best-practices/)** here.  ## How could you use a dashboard like this to foster innovation?   Possible answers include:   We can show you how to use these [analytical tools](https://www.sapbwconsulting.com/blog/unleashing-business-success-balanced-scorecard-strategy) to increase your rate of innovation and improve your [innovation strategy](https://www.sapbwconsulting.com/blog/senior-executives-use-strategic-analysis-to-create-shareholder-value).   [![xCelsius Dashboard Best Practices](https://no-cache.hubspot.com/cta/default/118735/37ffebe1-04ee-41ca-97f0-bb48fccc8382.png)](https://cta-redirect.hubspot.com/cta/redirect/118735/37ffebe1-04ee-41ca-97f0-bb48fccc8382) ## ***People who read this article also read:*** - [7 Questions typically answered by a BI Strategy](https://www.sapbwconsulting.com/blog/SAP-BW-Consulting/bid/129768/7-Questions-typically-answered-by-a-BI-Strategy) - Take a [Deeper Dive](https://www.sapbwconsulting.com/blog/deep-dive-into-aircraft-cockpits-vs-dashboards) into Aircraft Cockpits Vs Dashboards   Thanks     Topics from this blog: [Patents](https://www.sapbwconsulting.com/blog/topic/patents) [Innovation Strategy](https://www.sapbwconsulting.com/blog/topic/innovation-strategy) [xCelsius](https://www.sapbwconsulting.com/blog/topic/xcelsius) [Dashboards](https://www.sapbwconsulting.com/blog/topic/dashboards) ### Download SAP BW Mindmap Learn what SAP Business Warehouse is and what it does in under five minutes [![Get this Mindmap](https://no-cache.hubspot.com/cta/default/118735/8db2ad37-8211-47a3-86ae-09b6b2bb297b.png)](https://cta-redirect.hubspot.com/cta/redirect/118735/8db2ad37-8211-47a3-86ae-09b6b2bb297b) [mailto:someone@yoursite.com](mailto:someone@yoursite.com) ### Lonnie D. Ayers, PMP About the Author: Lonnie Ayers is a Hubspot Certified Inbound Marketing consultant, with additional certifications in Hubspot Content Optimization, Hubspot Contextual Marketing, and is a Hubspot Certified Partner. Specialized in demand generation and sales execution, especially in the SAP, Oracle and Microsoft Partner space, he has unique insight into the tough challenges Service Providers face with generating leads and closing sales using the latest digital tools. With 15 years of SAP Program Management experience, and dozens of complex sales engagements under his belt, he helps partners develop and communicate their unique sales proposition. Frequently sought as a public speaker in various events, he is available for both inhouse engagements and ** remote coaching. ** ![Balanced Scorecard Consultant](https://www.sapbwconsulting.com/hubfs/social-suggested-images/Balanced%20Scorecard%20Certified%20Graduate.jpg) He also recently released a book **"How to Dominate Any Market - Turbocharging Your Digital Marketing and Sales Results",** which is available on [ Amazon.](https://www.amazon.com/Dominate-Turbocharging-Digital-Marketing-Results/dp/1728357950/ref=sr_1_1?dchild=1&qid=1589182458&refinements=p_27%3ALonnie+D.+Ayers&s=books&sr=1-1&text=Lonnie+D.+Ayers)**** [View All Articles by Lonnie D. Ayers, PMP](https://www.sapbwconsulting.com/blog/author/lonnie-d-ayers-pmp) ## The SAP Blog Subscribe to our blog and receive SAP BW Updates, demand generation, inbound marketing, sales enablement, technology and revenue generation insights and ideas delivered right to your email. [mailto:someone@yoursite.com](mailto:someone@yoursite.com) ![SAP](https://googleads.g.doubleclick.net/pagead/viewthroughconversion/960101754/?value=0&guid=ON&script=0) ![](https://www.facebook.com/tr?id=199270410761059&ev=PageView&noscript=1) ```json { "@context" : "https://schema.org", "@id" : "https://www.sapbwconsulting.com/blog/how-is-your-innovation-strategy-working#blogposting", "@type" : "BlogPosting", "about" : [ { "@type" : "Thing", "name" : "Learning", "sameAs" : "https://en.wikipedia.org/wiki/Learning" }, { "@type" : "Thing", "name" : "Innovation", "sameAs" : "https://en.wikipedia.org/wiki/Innovation" }, { "@type" : "Thing", "name" : "Dashboard", "sameAs" : "https://en.wikipedia.org/wiki/Dashboard" }, { "@type" : "Thing", "name" : "Analysis", "sameAs" : "https://en.wikipedia.org/wiki/Analysis" }, { "@type" : "Thing", "name" : "Data", "sameAs" : "https://en.wikipedia.org/wiki/Data" }, { "@type" : "Thing", "name" : "Strategic management", "sameAs" : "https://en.wikipedia.org/wiki/Strategic_management" } ], "articleBody" : "In this blog, we delve into strategies to evaluate how well your innovation efforts are working and how you can enhance them using dashboards, data analysis, and strategic insights.", "author" : { "@id" : "https://www.sapbwconsulting.com/about-lonnie-ayers#person" }, "dateModified" : "2024-10-05", "datePublished" : "2024-10-05", "description" : "Explore how to evaluate and improve your innovation strategy with best practices and data-driven insights.", "headline" : "How is Your Innovation Strategy Working?", "image" : "https://www.sapbwconsulting.com/images/innovation-strategy.jpg", "inLanguage" : "en-US", "mainEntityOfPage" : { "@id" : "https://www.sapbwconsulting.com/blog/how-is-your-innovation-strategy-working#webpage" }, "mentions" : [ { "@type" : "Thing", "name" : "Article", "sameAs" : "https://en.wikipedia.org/wiki/Article_(publishing)" }, { "@type" : "Thing", "name" : "Economy", "sameAs" : "https://en.wikipedia.org/wiki/Economy" }, { "@type" : "Thing", "name" : "Patent", "sameAs" : "https://en.wikipedia.org/wiki/Patent" }, { "@type" : "Thing", "name" : "Country", "sameAs" : "https://en.wikipedia.org/wiki/Country" }, { "@type" : "Thing", "name" : "Aptitude", "sameAs" : "https://en.wikipedia.org/wiki/Aptitude" }, { "@type" : "Thing", "name" : "Population", "sameAs" : "https://en.wikipedia.org/wiki/Population" }, { "@type" : "Thing", "name" : "Household", "sameAs" : "https://en.wikipedia.org/wiki/Household" } ], "name" : "How is Your Innovation Strategy Working?", "potentialAction" : { "@type" : "ViewAction", "name" : "Download 10 xCelsius Dashboarding Best Practices", "target" : { "@type" : "EntryPoint", "actionPlatform" : [ "http://schema.org/DesktopWebPlatform", "http://schema.org/MobileWebPlatform" ], "inLanguage" : "en-US", "urlTemplate" : "https://www.sapbwconsulting.com/xcelsius-2008-dashboard-best-practices" } }, "publisher" : { "@id" : "https://www.sapbwconsulting.com#organization" }, "url" : "https://www.sapbwconsulting.com/blog/how-is-your-innovation-strategy-working" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://www.sapbwconsulting.com#website", "@type" : "WebSite", "name" : "SAP BW Consulting, Inc.", "publisher" : { "@id" : "https://www.sapbwconsulting.com#organization" }, "url" : "https://www.sapbwconsulting.com" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://www.sapbwconsulting.com#organization", "@type" : "Organization", "logo" : { "@id" : "https://www.sapbwconsulting.com#logo" }, "name" : "SAP BW Consulting, Inc.", "sameAs" : [ "https://www.linkedin.com/company/543163/admin/", "https://www.youtube.com/user/SAPBWConsulting/", "https://twitter.com/Lonniea39", "https://www.facebook.com/SAPBWConsulting" ], "url" : "https://www.sapbwconsulting.com" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://www.sapbwconsulting.com#logo", "@type" : "ImageObject", "caption" : "SAP BW Consulting, Inc. logo", "url" : "https://www.sapbwconsulting.com/hs-fs/hubfs/sapbw-consulting.png" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://www.sapbwconsulting.com/about-lonnie-ayers#person", "@type" : "Person", "name" : "Lonnie D. 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