Brief description:

In the context of Best Practice Story 7 Business Model Development, opportunities and potentials of data analysis were considered with regard to the incremental development of the business model. To this end, implicit information about the quality and external impact of an existing business model (product, product series, product group) was abstracted from social media texts and product reviews using NLP technologies (Natural Language Processing) and classified on the basis of their sentiment. For example, ratings and opinions from reviews and social media posts could be assigned to the price of a product. In the next step, the terms used were classified with regard to a positive, neutral or negative orientation. From this, an overall tendency for the characteristic “price” could be determined. Together with other characteristics of interest, these results could then be compared with the existing business model. In the event of discrepancies, measures for addressing customers or adjustments to internal processes could be considered. In addition, customer wishes could be identified, which could be incorporated into product planning. With the help of the information from the NLP analysis, defects in an existing business model were to be uncovered and potential for improvement derived.

Incremental improvements for the existing business model should be given by a recommendation assistant. Recommendations in the form of business model patterns should be generated for the identified defects and suggested to users.

Results:

  • Review of an existing business model based on external factors
  • Incremental improvement suggestions for optimizing an existing business model
  • Better consideration and incorporation of external factors such as customer ratings and opinions