Faster and better testing with Model-Based Testing

Around the year 2010 Model-Based Testing (MBT) was at the top of the hype cycle. It was
seen as a must-have. The method could be implemented with relative ease and required only limited investment. Then a range of disillusions followed. It turned out to be more complex than anticipated and the costs often outweighed the benefits. This was the reason for most organisations to stop using MBT. Which is a shame, as experience proves that MBT can definitely contribute to productivity when used in the right situations. What are these situations? And what are important factors to take into account when you are considering applying MBT?