New Innovation Index Rates Innovative Retail Tech Firms

There is now a benchmarking platform for suppliers of technology solutions for the retail industry.

The Retail Technology Innovation Index, produced by EIQ Research Solutions and powered by EnsembleIQ, represents the industry’s first algorithm-based, 12-factor, 0-to-100 point index of the retail industry’s most innovative technology companies.

This comprehensive assessment helps retailers decide in which technology companies to invest their time and effort to roll out customer and business innovation initiatives.

Updated quarterly, the Index is not a ranking, but does provide innovation metrics associated with each company identified, researched and scored across key criteria. To download the full report, visit RIS News. 

The launch of the Innovation Index reinforces EnsembleIQ’s vision for delivering information, research, news and analytics to the retail and CPG communities. It will leverage several of the company’s existing media and research products and services.

“We are in the midst of an historic shift in perspective that is affecting companies across the world and across industry boundaries,” said David Shanker, EnsembleIQ's chief executive officer. “Our experience tells us that retailers who want to stay relevant need to make a real commitment in technology investments that develop fully connected, engaging customer experiences.

"Looking beyond simply driving down cost is becoming more important for retailers," Shankar continued. "We are delighted to be able to provide our clients with access to this important information through our Innovation Index, thereby enabling them to make better investment decisions and more strategic choices.”

Designed to transparently and objectively measure the performance of more than 450 meticulously selected companies and provide clients with differentiated insight, the Innovation Index scores subjects according to 12 key performance indicators (KPIs) under four overarching pillars: Product, Performance, Ecosystem and Organization.

Only companies with scores across all four pillars are assigned an overall score (the average of the four pillars) from zero to 100. The top 75 companies with the best overall scores were selected for the Index. The plan is to expand the Index to 100 companies beginning in 2019.

To learn more about the index, contact Jesse Casselberry, , EnsembleIQ's director of enterprise solutions, technology practice at [email protected].