Event Analytics for Innovation Trajectories: Understanding Inputs and Outcomes for Entrepreneurial Success

Abstract

New analysis tools are expanding the options for innovation researchers. While previous researchers often speculated on the relationship between inputs, such as patents or funding, and outcomes such as product releases or IPOs, new software tools enable researchers to analyze innovation event data more efficiently. Tools such as EventFlow make it possible to rapidly scan visual displays, algorithmically search for patterns, and study an aggregated view that shows common and rare patterns. This paper presents initial examples of how event analytic software tools such as EventFlow could be applied to innovation research, using data from 34,331 drugs or medical devices.