Using a business model framework to be relevant
Deciding what to focus on in business performance can be a challenge. Business model frameworks are used to simplify real-world complexities, facilitating our ability to think about and conceive ideas without an overburdening amount of detail. Many different business models could be used. For the purposes of data storytelling, we will use a business model with five framework areas—namely, Resources, Operations, Value Creation, Customer Experience, and Risk—that will guide us in our pursuit of relevant story content.
The following diagram illustrates business model framework areas for identifying relevant story content:
Figure 10.1 – Business model framework areas for relevant story content
We'll now look at detailed descriptions of the five framework areas seen in Figure 10.1. Each area description includes several questions that are typically relevant to a business when answered.
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