Business Model Innovation Analytics for Small to Medium Enterprises

Hypercompetition requires shorter life cycles for products, services, processes, and business models. Innovation management aided by innovation analytics is helping companies respond more precisely to such challenges. Business model innovation, yet, is poorly explored in combination with innovation analytics. The subject is even more neglected when approached under the SME perspective. Such companies struggle in dealing with scarce resources. Still, they are also exposed to hypercompetitive environments. A theoretical background covering the evolution of innovation management and the importance of business model innovation-specific practices is provided. Thus, we will introduce a framework that enables SMEs to utilize innovation analytics. Presenting a comprehensible process, we integrate dynamic capabilities, activities, and data analytics. The aim is data-driven focused business model innovation. As for theoretical implications, this is one of the first studies relating business model innovation and innovation analytics. In practice, it will help managers to better understand innovation analytics for further application in SMEs.