Transforming innovation trends into results with best-in-class analytics

1. Ciara McGoohan
General Manager Insights & Analytics
David Jones & Country Road Group
Michelle Carter
Senior Vice President
Mastercard
Transforming Innovation Trends into Results
with Best-in-Class Analytics

2. Presenter Introductions
Michelle Carter
Senior Vice President
Mastercard
Ciara McGoohan
General Manager Insights & Analytics
David Jones & Country Road Group

3. • Become Innovation Index Findings
• Analytics for Innovation in Practice at David Jones Country
Road Group
• Key Takeaways
Agenda

4. “If I had asked the public what
they wanted, they would have
said a faster horse.”
- Henry Ford

5. Making innovation
an explicit goal
goes a long way
toward achieving it.
5
Among innovation
leaders
87%
say they assign
innovation a high
priority.
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

6. Become: What are the biggest challenges to innovation within
your organization today?
Yet, there are common
challenges that impede
innovation
Less than 20% of
organizations actually
qualify as innovation
leaders.
Limited time and
resources for innovation
Siloed data and information
across departments
Legacy technology Lack of clear process
for managing innovation
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

7. Mastercard partnered with Harvard
Business Review Analytic Services to
conduct innovation research based
on a global survey of
1,000+ executives &
1,000+ consumers
12 leading CEO interviews
37%
6%
9%
22%
26%
BREAKDOWN OF BUSINESS RESPONDENTS
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

8. Leaders demonstrated the broadest range of innovation capabilities
across the studied innovation pillars:
Become Index Innovation Leaders
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders
Process Human
Capital
Funding Customer
Experience
Data &
Technology
17%
Leaders accounted for
17% of surveyed
organizations
88
Leaders had an
innovation score of 88

9. Innovation leaders are unique in that they strive
to become:
Faster Entrepreneurial Data-DrivenCollaborative
Customer-
Centric
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

10. Innovation leaders are unique in that they strive
to become:
Faster Entrepreneurial Data-Driven
Customer-
Centric
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders
Collaborative

11. of innovation
leaders say they
bring new ideas
and solutions to
market quickly,
compared to 17%
of laggards.
96%
Innovation leaders are able to
bring new ideas and solutions to
market quickly
“We use a test-and-learn approach to
allows us to respond to ever-changing
customer preferences. When we commit to
a new product, we quickly move to scale.
Our market teams are empowered to
innovate based on local preferences, and
we work to lift and shift the best ideas
across the world.”
James Quincey
Chairman and CEO
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

12. Innovation leaders are unique in that they strive
to become:
Faster Entrepreneurial Data-Driven
Customer-
Centric
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders
Collaborative

13. The most innovative companies embrace risk
and exploration
of innovation leaders prioritize breakthrough
ideas, compared to only 13% of laggards.
Nearly all understand that
failure, within boundaries, is
acceptable.
40%
91%
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

14. And those that don’t are often paralyzed by a fear
of failure.
My organization makes it clear that innovation failure, within boundaries, are acceptable.
My organization tests a broad pipeline of ideas with the expectation that many will fail.
Net Agree %
Leaders Laggards
91%
18%
84%
13%
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

15. Innovation leaders are unique in that they strive
to become:
Faster Entrepreneurial Data-Driven
Customer-
Centric
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders
Collaborative

16. Companies that prioritize
innovation and engage a
broad group of internal
and external partners,
see the best results
of innovation leaders
are willing to invest in
external innovation
opportunities,
compared to 31% of
laggards.
88%
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

17. Innovation leaders are unique in that they strive
to become:
Faster Entrepreneurial Data-Driven Customer-
Centric
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders
Collaborative

18. Innovation leaders are far more likely to use a data-
driven and customer-centric approach to innovation
73%
of leaders use internal and
external data with advanced
analytics for business decisions
96%
of leaders measure the impact
of innovations on business
performance
72%
of executives strongly agree that
consumer insight is a vehicle for
innovation
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

19. • Become Innovation Index Findings
• Analytics for Innovation in Practice at David Jones
Country Road Group
• Key Takeaways
Agenda

20. • Become Innovation Index Findings
• Analytics for Innovation in Practice at David Jones Country
Road Group
• Key Takeaways
Agenda

21. Actionable Takeaways from this session:
The five traits of leading innovators provide a roadmap for companies looking to
move ahead of the competition.
FASTER
Companies
that can’t keep pace
with fast-changing
technologies and
consumer
expectations run the
risk of falling behind
nimble competitors.
DATA-DRIVEN
Companies can go
fast but get nowhere
if they don’t have a
roadmap to guide
them. For many
companies, that
roadmap is built
on data.
COLLABORATIVE
An explicit
commitment to
innovation can go a
long way toward
making it a reality.
ENTREPRENEURIAL
Having a culture that
embraces change,
diversity of opinion, and
risk-taking significantly
facilitate innovation.
CUSTOMER-CENTRIC
Many of the
world’s most innovative
companies obsess over
understanding their
customers and figuring
out new ways to make
their lives simpler, easier,
or more enjoyable.
SOURCE: Harvard Business Review Analytic Services: Innovators Become Leaders

22. How do you stack up? Get your innovation score at
BECOMEINDEX.COM
• Download the Innovators Become
Leaders and CEO’s Innovation
Playbook Reports
• Take the Become Business
Innovator’s Survey to Get Your
Organization’s Innovation Score and
Diagnostics
• Stop by booth #5119 to learn more