A Formal Basis for Business Model Evaluation with Linguistic Summaries

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Abstract

Given its essential role in understanding, explaining and structuring digital innovation, we see the increased prevalence of the business model concept as a unit of analysis in IS research. In contemporary, fast-paced markets, business models are volatile in nature and should be continuously innovated to accommodate new customer needs and technology developments. Business model innovation can be considered as an iterative process to guide business models from ideation towards implementation, in which the proper evaluation of business model prototypes is essential. For this evaluation, we need normative guidance, tools and rules to understand the relative performance of a new business model design. In the early design phases, this implies dealing with high levels of uncertainty. A few techniques and methods have been proposed for this purpose, but these lack the formal basis required for systematical application and development of automated evaluation tools. As a novel approach, we have earlier proposed the application of linguistic summarization to support early-phase, soft-quantitative business model evaluation. In this paper, we focus on a structural formalization of this approach as the basis for the development of well-defined user guidelines and automated evaluation tools. In doing so, we bridge the existing gap between qualitative and quantitative business model evaluation. We demonstrate the formalization by means of a running case inspired by a real-world project in the highly dynamic urban mobility domain.
Original languageEnglish
Title of host publicationEnterprise, Business-Process and Information Systems Modeling - 21st International Conference, BPMDS 2020, 25th International Conference, EMMSAD 2020, Held at CAiSE 2020, Proceedings
EditorsSelmin Nurcan, Iris Reinhartz-Berger, Pnina Soffer, Jelena Zdravkovic
PublisherSpringer
Pages428-442
Number of pages15
ISBN (Electronic)978-3-030-49418-6
ISBN (Print)9783030494179
DOIs
Publication statusPublished - 29 May 2020
EventEnterprise, Business-Process and Information Systems Modeling (BPMDS2020) (EMMSAD2020) - Grenoble, France
Duration: 8 Jun 20209 Jun 2020

Publication series

NameLecture Notes in Business Information Processing
Volume387 LNBIP
ISSN (Print)1865-1348
ISSN (Electronic)1865-1356

Conference

ConferenceEnterprise, Business-Process and Information Systems Modeling (BPMDS2020) (EMMSAD2020)
Abbreviated titleBPMDS2020 EMMSAD2020
CountryFrance
CityGrenoble
Period8/06/209/06/20

Keywords

  • Business model evaluation
  • Business models
  • Formal model
  • Linguistic summarization

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