Using machine learning to determine factors affecting product and product–service innovation

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Abstract
Machine learning (ML) analytical tools are increasingly being considered as an alternative quantitative methodology in management research. This paper proposes a new approach for uncovering the antecedents behind product and product–service innovation (PSI). The ML approach is novel in the field of innovation antecedents at the country level. A sample of the Equatorian National Survey on Technology and Innovation, consisting of more than 6,000 firms, is used to rank the antecedents of innovation. The analysis reveals that the antecedents of product and PSI are distinct, yet rooted in the principles of open innovation and competitive priorities. The analysis is based on a sample of Equatorian firms with the objective of showing how ML techniques are suitable for testing the antecedents of innovation in any other context. The novel ML approach, in contrast to traditional quantitative analysis of the topic, can consider the full set of antecedent interactions to each of the innovations analyzed.

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