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Happy holidays, innovation enthusiasts, and welcome to Spigit’s 12 Days of Innovation! This 2014 spotlight series features hand-picked resources, upcoming events, webcasts, thought leadership pieces, and more to give you an inspirational boost for the coming year. Enjoy!

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On the 7th day of innovation, we’d like to share with you: our seven favorite features offered in our Spigit innovation management software. If you’re not familiar with this kind of tool, read up on it here.

1. Pairwise Voting

Spigit offers advanced head-to-head voting that can be used during a challenge to ensure that every idea gets equal, thoughtful consideration by the crowd. Through automated corrective mechanisms, ideas are fairly exposed to participants for assessment, meaning that they are graduated through the system based on merit rather than when they were submitted or how long they’ve been in the running.

2. Automated Idea Graduation

Automated Idea Graduation and workflows in the software make evaluating the best ideas a scientific process, instead of a process dependent on luck; as a result, ideas that make it to the top of the funnel do so because they’re viable, not just because they’re popular or have been manipulated by individual users.

3. Social Dynamics

Through the use of social dynamics — that is, processes that reflect the kinds of functionality and engagement seen in popular social media platforms — users can keep the crowd involved throughout the innovation process. Worthwhile ideas are driven to the surface as participants vote, comment, and become involved in shaping different ideas, creating an environment that makes innovation a fundamental part of everyone’s daily lives.

4. Predictions

If you want to prove that your innovation program is successful, you need to be able to explain why it works so well — and you can’t just take our word for it. Enter the recently released Spigit Predictions module, which uses reliable analytics to help forecast the return on any innovation investment with quantitative, crowd-derived data. After all, it’s much easier to prove that an idea is valuable when you can accurately predict how much it’s worth!

5. Graph APIs

This particular piece of functionality is excellent because it mimics the ‘semantic web’ — or, the streamlining of gathered data, which provides a common framework that allows people to share and repurpose information across applications, enterprises, and community boundaries. Basically, this means that data collected within the platform, such as challenges, ideas, comments, votes, and discussions, can be accessed programmatically.

6. Idea Trading Market

While monetary incentives aren’t always right for everyone, there’s no denying that they can be a pretty excellent motivator for a lot of people. In this platform, participants are able to invest virtual currency in an idea, providing crowd-based insight into actionable submissions. Furthermore, users can convert this virtual currency into real prizes available in a company’s customizable ‘store’, providing a solid financial incentive to participate.

7. Community Creation

Collaboration is a true driver of innovation, and in the SE platform, users are able to create multiple innovation communities that can exist simultaneously, providing a way to cater to different segments of the organization. These communities can be used for always on, bottom-up innovation, while individual Challenges can be used to create sponsor-driven, top-down, inquiry-led business problem innovation.

Click here to explore all of these exciting features and more.