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A model is a standardized way to view a structure or process. Models are developed for domains, industries and professions. For example, business models are used to illustrate the basic revenue generating strategies employed by industries. These can be used to compare industries or to develop a business plan.
A model is typically designed to illustrate the trade-offs in a particular domain. They can be used to develop strategies, solve problems or make decisions. |
Function | Problem SolvingStrategyDecision Making | Value | Creating a standardized view that's well recognized in a domain or industry. Transforming data into consumable knowledge for problem solving. | Related Techniques | Conceptual FrameworkAbstraction | Common Pitfalls | In some cases, creating models that don't add concrete and immediate value may be viewed as burdensome administrative work. |
Thinking
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