Role of Sensing in Building Business Models, why and how

In a crisp, Business Modeling is an alphanumeric archetypal to represent and evaluate an existing or anticipated business. The modeling process consists of resolving the business manifolds under specific and defined dimensions. However, the present business modeling fails to position the end products under users/ customers' acceptability scale. As a result, a business goes several iterations before it reaches a certain confidence level, compounding to a significant waste of time and resources. Through this paper, we shall attempt to address this problem by introducing a new dimension, “SENSING,” and present the framework for Sensing in Business Model Innovation (SENSEBMI) to predict the end-user's perception and discuss the approach of realizing this new paradigm shift.