Business Models: Stories that explain the economic logic that delivers value to customers at an appropriate cost (Magretta, 2002)
Datafication: The resolution of a real world activity into one or more data streams. The basis for big data strategies and the value they propose to release. Hence, ‘turning an existing business into a “data business” ‘ (Forbes, 2013).
Digitization and Digitalization: These two words are often used interchangeably, and when this is the case then the simpler version (digitization) should probably be used. However, in this project it serves us to make the words express a significant difference.
——Digitization we take as the encoding of analogue information into a digital format.
——Digitalization is then the (possible) subsequent reconfigurations of the socio-technical context of production and consumption of the associated products and services. (This distinction builds on the work of Yoo. 2013 but is not made in his work)
Digital Artefact: Editable, interactive, reprogrammable, and distributable resources. Their value and utility is contingent on shifting webs of functional relations with other artefacts across contexts and organizations. (Based on Kallinikos et al. 2013)
Medicines and Drugs: These words are almost synonyms, but they offer slight but significant shifts of emphasis.
——Medicine evokes the practice of medicine and hence the practices of using medicines;
——Drug evokes the manufactured product and its chemical character and its materiality.
Platform: ‘A set of stable components that support variety and evolvability in a system by constraining linkages among other components’ (Baldwin and Woodard 2009)