Model-Driven Business Transformation and Semantic Web

The backbone of the World economy has shifted from agriculture to manufacturing to information. It is now entering a new phase known as an innovation-based economy [1, 4] where value will be created in services we provide with information to improve business, government, education, and people’s daily workspace. Accordingly, the focus of computing and IT is shifting to the application of technologies to help enterprises, governments, and other organizations improve and transform their current practices. To facilitate the business transformation process, the service-led economy requires the development of new business methods and the technology supporting those methods. Industry and academia, to cope with this paradigm shift in the role of technology, forms a new discipline called service sciences [2] by converging ongoing work in related fields of computer science, industrial engineering, operations research, management sciences, and social and legal sciences. Services science would merge technology with an understanding of business processes and organization. It would transform business by recognizing an organization’s pain points and apply technologies to correct them.

By: Juhnyoung Lee

Published in: RC23731 in 2005


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