Model Driven Development is an approach. It creates a long term profit by capturing the business knowledge into model artifacts. As more time invested on artifacts, software created based on them captures the domain better and software product's quality increases. Another important point here is that, this increase is independent from any key player domain expert. Because your organizations knowledge is not in the brain of any domain expert but in the model artifact they are creating together. In comparison this is a huge difference to classical development relying on a particular technology. Classical development points source code as source of domain knowledge. Now software developing organization has a possibility to create technology independent business value. Model Driven Development is not just for reducing the development time but also capturing the domain knowledge in a technology independent way. In practice many developers came across with the term "Model D...
