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Innovation means many different things to many people. Ask five people and you will likely get ten answers. But all agree that it is a key driver behind the success of organizations, the growth of economies and provides major contributions in addressing global problems. This presentation will examine various analytical methods and possible metrics for measuring innovation and determining relative performance of organizations. The challenges involved in assessing innovation and how these can be addressed will be explored. The pros and cons associated with the metrics identified will also be discussed with a view to identifying a practical method for assessing innovation.