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SEMMA is an acronym that stands for Sample, Explore, Modify, Model, and Assess. It is a list of sequential steps developed by SAS Institute, one of the largest producers of statistics and business intelligence software. It guides the implementation of data mining applications. [1]
Business model patterns are reusable business model architectural components, which can be used in generating a new business model. [1] In the process of new business model generation, the business model innovator can use one or more of these patterns to creating a new business model. Each of these patterns has similarities in characteristics ...
It makes some of the old CRISP-DM documents available for download and it has incorporated it into its SPSS Modeler product. [ 6 ] Based on current research, CRISP-DM is the most widely used form of data-mining model because of its various advantages which solved the existing problems in the data mining industries.
Business method patents are a class of patents which disclose and claim new methods of doing business. This includes new types of e-commerce, insurance, banking and tax compliance etc. Business method patents are a relatively new species of patent and there have been several reviews investigating the appropriateness of patenting business methods.
A patent model was a handmade miniature model no larger than 12" by 12" by 12" (approximately 30 cm by 30 cm by 30 cm) that showed how an invention works. It was one of the most interesting early features of the United States patent system.
A reference model in general is a model of something that embodies the basic goal or idea of something and can then be looked at as a reference for various purposes. A business reference model is a means to describe the business operations of an organization, independent of the organizational structure that perform them.
These indicate to an organization the strength of the business model, whether there are areas for improvement, and how well an organization fits the external environment. [7] Goals and objectives: An analysis on the mission of the business, the industry of the business and the stated goals required to achieve the mission.
Business strategy drives selection of business models. These business models drive the design of underlying processes and services. Business Analysis is critical: Any number of models can address a strategic imperative. But the best models, services and processes will exploit existing business capabilities (human, IT and physical), the areas where change is possible and the areas where invest