Finnish Innovation Index

What does the Finnish Innovation Index (FII) measure?

The Finnish Innovation Index (FII) method is developed by Hanken School of Economics and enables a ranking of the most innovative companies by Finnish consumers. FII is unique in its measurement of perceived innovativeness from the customer point of view rather than relying on general attitudes, expert opinions or R&D investments. The Perceived innovativeness is a subjective measurement of how customers perceive companies' capability to develop and offer novel and useful solutions.

Firms are selected based on the following criteria's:

• Household expenditure: Firms included in the innovation index represent 70% of the Finnish consumers jointly household spending

• Market share: The companies have a 70% market share in their respective industries

For the 2022 FFI ranking, approximately 3500 consumers evaluated a 60 companies, resulting in approximately 17.000 responses and an average of 300 responses per company

The Finnish Innovation Index (FII) measures and ranks companies on two indicators: Commercial Innovation Index is the essential overall indicator of innovativeness and the Social Innovation Index focused on societal progress. Additionally, the FII compares companies on the perceived Data Transparency focused on the excellence in customer data.

Commercial Innovation Index:

The Commercial Innovation Index reveals how the consumers see the firm’s innovativeness and attractiveness based on their previous experiences with the firm. A high ranking indicates that a firm is perceived as a pioneer and game changer in their field.

See FII 2022 results here

Social Innovation Index-SII:

Introduced in 2022, the Social Innovation Index ranks the Finnish firms’ societal and environmental innovations from a consumer perspective. A high ranking indicates that the Finnish consumers view the firm as a driver for social and environmental progress.

Data Transparency:

Data transparency measures the extent to which the firm is utilizing data with integrity n that consumers know what data is being collected, who has access to it, and how they are able to interact with it.

Data Transparency Index reveals how Finnish consumer experiences the firms’ capability to manage and be transparent with their customer data. A high score signals that customers trust the firm to be using their shared information ethically and fairly.

Read more about FII 2021 here.