Introduction
Innovation is a key driver of progress and competitiveness in today’s fast-paced world. Understanding how ideas and products evolve over time is essential for identifying opportunities and making informed decisions. Flow of Innovation is a technique for visualizing the paths of invention and tracking the transfer of knowledge and resources. In this article, we will explore the use of Sankey charts to create a clear and concise visual representation of the flow of innovation.
What is a Sankey Chart?
A Sankey chart is a graphical technique for visualizing the flow of materials, energy, or information between different entities. Its name is derived from its creator,Helmut Sankey, a Swiss engineer who developed the methodology in the early 20th century. Sankey charts are widely used in fields such as environmental science, economics, and logistics to analyze and optimize the flow of resources.
Applications of Sankey Charts in Innovation
The flow of innovation can be visualized using Sankey charts by representing different stages of the innovation process as different entities. For example, a company may be represented by an “entity” on the horizontal axis, while research and development, marketing, and manufacturing are represented by “entities” on the vertical axis. The flow of information or resources between these entities can be visualized using arrows and labels on the chart.
One of the key advantages of using a Sankey chart to visualize innovation is that it allows for the comparison of different paths or scenarios. For example, a company may want to explore the consequences of different decisions or investments in research and development. By visualizing the flow of knowledge and resources through the different stages of the innovation process, the chart can help identify which paths are more promising and which risks should be avoided.
How to Create a Sankey Chart for Innovation
Creating a Sankey chart for innovation involves several steps:
- Identify the entities that need to be represented on the chart. This may include different stages of the innovation process, such as research and development, testing, and production.
- Determine the direction of the flow of information or resources between each pair of entities. This may be based on your knowledge of the innovation process or by consulting with relevant stakeholders.
- Choose a Sankey chart software or online tool that allows you to create and customize the chart. There are several options available, including SankeyMaps, Sankey Flow, and DrawSankey.
- Enter the data for the chart and customize the design and layout. This may include adding labels, adjusting the axis, and highlighting key trends or patterns.
- Review and analyze the chart to identify insights and patterns that can inform future innovation decisions.
Conclusion
Visualizing the flow of innovation using Sankey charts is a powerful tool for understanding and optimizing the transfer of knowledge and resources. By representing different stages of the innovation process as distinct entities on the chart, it is possible to identify which paths are likely to be successful and which risks should be avoided. Creating a Sankey chart for innovation requires careful planning and the use of relevant data and stakeholders, but the resulting insights can be invaluable in driving innovation forward.
SankeyMaster
SankeyMaster is your go-to tool for creating complex Sankey charts . Easily enter data and create Sankey charts that accurately reveal intricate data relationships.
