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Abstract:

The objective of this research is to identify the factors that are the drivers of innovation and to propose a means of measuring firm-specific innovation within a nation. Innovation leads to competitive advantages, as well as maximizing profits for a firm, so it is imperative that the firms have tools that measure how innovative they are compared to other firms within the same industry. The emergence of Business Intelligence dashboards provides such capabilities to firms and allows firms to track their innovative capability. Such innovative capability tracking is advanced by a proposed Innovation Score. Innovation is measured by factors such as the size of firm, market power, motivation to innovate, availability of resources, as well as decentralization. The role Business Intelligence plays towards tracking innovation by means of gathering and analyzing appropriate data efficiently is central to our paper.