The term Business Model Innovation refers to successfully implemented innovations in the business model of companies.
In comparison to product development, Business Model Innovation is primarily concerned with the monetarization of products and services, i.e. activities that generate new customer benefits, create innovative distribution channels and introduce new models of monetarization.
Especially in the era of digitalization and digital strategy, business model innovation plays an increasingly important role. Business model innovations that are based on data are also called digital business models. With the Innolytics® innovation software, companies can quickly and easily develop, evaluate and implement ideas for business model innovations.