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The field of data and information visualization has emerged "from research in human–computer interaction, computer science, graphics, visual design, psychology, and business methods. It is increasingly applied as a critical component in scientific research, digital libraries , data mining , financial data analysis, market studies ...
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
Collection is the first step in the MI model, it involves the gathering of data and information of a particular market sector. [3] Such data and information can be gathered from external sources, such as other organisations and their market strategies, research institutes and business reports. [3]
Analytics is the "extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions." It is a subset of business intelligence, which is a set of technologies and processes that uses data to understand and analyze business performance to drive decision-making .
Segmentation includes a lot of market research, since a lot of market knowledge is required to segment the market. Market research about market structures and processes must be done to define the “relevant market”. The relevant market is an integral part of the whole market, on which the company focuses its activities.
Information access is difficult since managers see information as competitive advantage on the market; Managers are educated and want some information produced by the classical research method; Finding must resolve practical management problems; Managers often need information of high quality to help them to make the right decision.
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The Information Framework, as the Frameworx information model, provides an information/data reference model and a common information/data vocabulary from a business as well as a systems perspective. The Information Framework uses Unified Modeling Language to formalize the expression of the needs of a particular stakeholder viewpoint.