Strategic advice to leverage new technologies
Technology is at the heart of nearly every enterprise, enabling new business models and strategies, and serving as the catalyst to industry convergence. Leveraging the right technology can improve business outcomes, providing intelligence and insights that help you make more informed and accurate decisions. From finding patterns in data through data science, to curating relevant insights with data analytics, to the predictive abilities and innumerable applications of AI, to solving challenging business problems with ML, NLP, and knowledge graphs, technology has brought decision-making to a more intelligent level. Keep pace with the technology trends, opportunities, applications, and real-world use cases that will move your organization closer to its transformation and business goals.
Recently Published
Cutter IT Journal VOL. 27, NO. 12
Cutter IT Journal VOL. 27, NO. 12
Cutter IT Journal VOL. 27, NO. 12
Cutter IT Journal VOL. 27, NO. 12
This Executive Report explains what we mean by a business model, provides a classification of business models relevant to the enterprise architecture (EA) use of business models, and describes some of the key business models and how they relate to EA.
"Business model" is a catch-all phrase that covers models of a wide variety of types, so we start the accompanying Executive Report with a taxonomy of business model types. The report then goes on to give examples of the various types of business models in our taxonomy. Next, the report goes on to examine some of the key changes required in enterprise architecture in recent years as a consequence of changes in business models. Finally, we look at several business model frameworks that the EA team can use to convert or translate business models into architectural descriptions.
Imagine you are responsible for a production plant. Let's assume it's a plant that produces a few hundred cars per day. Now you hire a new consultant who promises to reduce your cost by a factor of four. He issues some policies and makes some changes to your production process and, alas, after five months your cost really drops down to half. This was not really what he had promised, but it's still quite impressive, isn't it?