The purpose of the research. Today, clusters in the world are important for the development of the economy, increasing its competitiveness, the country's transition to innovative development. The aim of the study is to identify methodological aspects of the cluster approach as an important tool for innovative development.

The methodology of the research. The article summarizes the main characteristics of the cluster as an object of economic analysis, shows the main directions of the innovative economy that ensures the implementation of the economic clustering process, characterizes the main elements of the cluster system, shows the need to form a methodology of economic clustering.

The practical importance of the research. Cluster strategy is considered an important tool for innovative development in most countries. The cluster approach is very promising. The formation and development of clusters can be used as an important factor in improving the competitiveness and efficiency of the country as a whole, as well as its regions.

The results of the research. Fund under the President of the Republic of Azerbaijan - Grant - № EIF BGM-3-BRFTF-2 + / 2017-15 / 15/5

The originality and scientific novelty of the research. Based on the world experience in solving the problems discussed in the article, approaches have been formed in accordance with the requirements of modern conditions. Research has been conducted and systematized in the study of clusters. Different features of the cluster approach have been identified in modern times.

Keywords: innovative economy, cluster, cluster approach, cluster strategy, method of economical calibration.