Lecture 3.2.13: Market sizing & business models

Welcome to Lecture 3.2.13 of the Masters in Health Data Science program.

In this lecture, we explore two critical concepts for transforming innovative ideas into successful ventures: Market Sizing and Business Models. Whether you're building an AI healthcare solution or launching a digital product, understanding your market and revenue strategy is essential.

📌 What You’ll Learn:
🔹 Market Sizing Fundamentals
• What is market sizing?
• Estimating total demand for a product or service
• Key questions:
• How big is the market?
• Who are the target users?
• Is the opportunity worth pursuing?

🔹 Market Sizing Framework
• TAM (Total Addressable Market) – Global opportunity
• SAM (Serviceable Available Market) – Target segment
• SOM (Serviceable Obtainable Market) – Realistic market share

🔹 Real-World Examples
• AI Accident Detection System
• AI Study Assistant for Students

📊 Why Market Sizing Matters
• Evaluates business feasibility
• Identifies target customers
• Attracts investors
• Guides product strategy and development

💼 Business Models Explained
• What is a business model?
• How products create value and generate revenue
• Common Business Models:
• Subscription Model
• Freemium Model
• Pay-per-use Model
• Licensing Model

📈 Business Model Canvas
Understand the 9 key components:
• Customer Segments
• Value Proposition
• Channels
• Customer Relationships
• Revenue Streams
• Key Resources
• Key Activities
• Key Partnerships
• Cost Structure

🎓 Applications in Capstone Projects
• Validate real-world demand
• Design scalable AI solutions
• Build startup-ready innovations
• Bridge the gap between academia and industry

🧠 Key Takeaway
Market sizing and business models ensure that your innovation is not only technically strong but also commercially viable and scalable.

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