Innovation Accounting is a concept in product management that helps measure and track the progress of innovative projects. It's like keeping score to see if your efforts are paying off. Just like using accounting principles to manage your finances, Innovation Accounting helps you evaluate the return on investment for your innovation initiatives. By using metrics and key performance indicators (KPIs), you can assess whether your product experiments are successful or need adjustments. This allows you to make data-driven decisions and allocate resources wisely to drive growth and innovation in your organization.