Keeping abreast of technology-driven business model evolution: a dynamic patent analysis approach

All firms that depend on technology for their competitive positions recognise that keeping abreast of technology-driven business model evolution is of vital importance. However, previous studies cannot offer a concrete way of profiling trends owing to the lack of quantitative data and systematic processes. We propose a dynamic patent analysis that can identify complex relationships among business method patents and visualise trends in technology-driven business model evolution. At the heart of the suggested approach is morphological analysis (MA) for structuring different types of business models at a technological attribute level and modified formal concept analysis (FCA) for investigating technological changes in business models over time. A case study of business method patents concerning electronic shopping is presented to show the feasibility of the proposed approach. We believe our method can promote consensus-building on up-to-date trends in technology-driven business model evolution, serving as a starting point for a more general model.