Refinement on Data, Information and Knowledge Lifecycles towards Service Economics Planning to Services Implementation

Abstract

Service Economics has been successfully proposed and implemented for promoting the macro service market especially in Global value chains which however don’t provide guidance to and integrate directly with the IT side implementation to achieve coherent information coordination and robust adaptability which indicts maximization of business profitability. Therefore there leaves a gap of the refinement from the strategic business planning to ubiquitous services implementation in the API (Application Program Interface) economy. Recently Gio Wiederhold attributed this gap to the knowledge difference between economists and the IT professionals and proposed that IT professionals should act to fill the gap since they have irreplaceable data, information and knowledge concerning the specific implementation. As an instance of this guidance in the practice of Value Driven Design, we proposed a systemic formalization from the value calculation to the design quality measurement which binds the modification and change on the design artifacts with the business value strategy through a framework of managed quality properties in a service design process covering data, information and knowledge assets.