The Spanish Innovation Index (ÍEI) is a rating given by Spanish consumers to companies according to the perceived degree of innovation of their products and services. The ÍEI covers 120 companies from 20 sectors of the Spanish economy, representing more than 70% of all household consumption.
The ÍEI is unique
The ÍEI is unique because it measures innovation taking into account the consumers’ point of view, which differentiates it from other indices that consider the perspective of entrepreneurs, expert opinions or macroeconomic indicators.
The scores are calculated following a careful and detailed methodology that allows the creation of a ranking of the most innovative companies at a sectoral level and for the whole Spain.
ABOUT THE INDEXE
The ÍEI is a project
From Universidad Carlos III de Madrid being developed in partnership with the Norwegian School of Economics NHH and the consulting firm Neovantas.
The ÍEI is composed of 3 indexes:
Commercial Innovation Index
Measures the level at which consumers assess the overall degree of innovation of the company’s products and services.
Digital Innovation Index
Measures the degree to which consumers perceive the company as innovative in its digital solutions.
Social Innovation Index
Measures the company’s perceived contribution to society and the environment through innovation.
The result is the annual rating and classification (ranking) of the main B2C companies operating in the country in various sectors, based on their capacity to innovate, their relative attractiveness and the loyalty of their customers.
Through a carefully designed procedure, a ranking is created that allows us to compare the innovation of companies and from various sectors within the Spanish economy.
The Innovation Index captures the perception of the innovation of companies’ products and services from the consumer’s perspective.
We examine the effects of the innovation perception on the strategic positioning of companies and on their customers’ loyalty.
The ÍEI is based on a research model
Constructs and measures of the research model are theoretically derived and validated through a series of pre-tests.
Data collection is conducted in 4 waves (quarterly data)
Between 100 and 300 evaluations are collected per company
The index is calculated taking into account more than 24,000 consumer evaluations
Each year, the ranking of the best companies according to commercial, digital and social innovation as perceived by Spanish consumers will be published.
We explore and research
The data collected not only allows us to calculate the ÍEI by company, sector and country, but also to explore mechanisms to help companies improve the communication with their consumers.
The Institute for Development of Enterprises and Markets (INDEM) aims to be the bridge between the university and the real world: the link between its members and the business and social world, with a commitment to promote and disseminate research applied to improving the efficiency and effectiveness of business activity. INDEM’s activity has a special emphasis on business innovation.
INDEM is composed of more than 60 researchers: most of them belong to the Department of Business Administration and others come from other departments of Universidad Carlos III de Madrid (Economics and Statistics) as well as from other prestigious international universities.