Design a cognitive ontology model to develop a business strategic plan

With the advent of modern technologies, customers have become more informed patrons and influential reviewers, who are responsible for the success or failure of a business. In this research, it is demonstrated that as long as a business adopts a customer-based strategy, taking advantage of its customers, it will earn more income. Concentrating on customers as the primary strategy of the business, the firm could attain non-financial values like trust and loyalty, which leads to the growth in financial values like sales and revenue.

Ontology defines a common term for researchers who need to share information in specific areas. The ability to interpret unrelated and unplanned events, is one of the biggest signs of success for a powerful manager of an organization. For business growth, there is an essential need for tools to deal with this issue. Although various ontologies in business have been proposed so far, none of them have been designed with a cognitive approach. The purpose of this study is to address the concept of strategic business plans with a cognitive ontology approach to provide a basis for new management tools.

This research proposed to design a cognitive ontology model to develop a business strategic plan that associates customer metrics with a conventional business model, determines the relationship between components, and substantiates the growth of the financial values.