Title: A performance evaluation method of new business model based on grey correlation algorithm

Authors: Yan Wang

Addresses: Department of Business Administration, Xingzhi College of Xi'an University of Finance and Economics, Xi'an 710038, China

Abstract: A new business model performance evaluation method based on grey correlation algorithm is designed to solve the problems of large evaluation error and low key of screening indicators in the new business model performance evaluation. First, analyse the new business model and screen the performance evaluation indicators of the new business model. Then, the clustering algorithm is used to determine the cluster family of each index, extract the performance evaluation index characteristics of the new business model, and construct the performance evaluation index system. Finally, the grey correlation algorithm is used to determine the grey correlation degree between the indicators, quantify the evaluation indicators, build a grey correlation model for the performance evaluation of the new business model, and realise the performance evaluation. The experimental results show that the evaluation error of the proposed evaluation method is only 2%, and the key degree of the selected index is higher than 90%, which is increased by more than 5%. This method has higher practical application value.

Keywords: grey correlation algorithm; new business model; performance evaluation; clustering algorithm; main sequence; correlation sequence; consistency check.

DOI: 10.1504/IJITM.2025.144112

International Journal of Information Technology and Management, 2025 Vol.24 No.1/2, pp.92 - 105

Received: 28 Jun 2022
Accepted: 23 Sep 2022
Published online: 28 Jan 2025 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article