What kind of analytics and reporting does new product development software provide?

New product development software typically provides a variety of analytics and reporting features designed to give you insights into the innovation process. You can expect detailed metrics on idea generation, such as the number of ideas submitted, their status, and how they're progressing through the development stages. These metrics help you track the efficiency of your innovation pipeline and identify any bottlenecks that may be slowing down the process.

Additionally, reporting capabilities might include analysis of team member engagement, showing who is contributing most to your ideation efforts, as well as which departments or individuals are providing the ideas that progress furthest. This data is valuable for recognizing and fostering key innovators within your organization.

Lastly, new product development software often includes outcome-based reporting, such as projected vs actual timelines, budget adherence, and market impact analysis. This kind of reporting is crucial for evaluating the success of your development projects against their intended goals and adjusting strategies for future product innovation efforts.