To sustain growth, maintain competitive advantage and to innovate, companies must make a paradigm shift in which both short-and long-term value aspects are employed to guide their decision-making. Such need is clearly pressing in innovative industries, such as ICT, and is also the core of Value-based Software Engineering (VBSE). The goal of this paper is to detail a framework called VALUE-improving decision-making relating to softwareintensive products and services development-and to show its application in practice to a large ICT company in Finland. The VALUE framework includes a mixed-methods approach, as follows: to elicit key stakeholders' tacit knowledge regarding factors used during a decisionmaking process, either transcripts from interviews with key stakeholders are analysed and validated in focus group meetings or focus-group meeting(s) are directly applied. These value factors are later used as input to a Web-based tool (Value tool) employed to support decision making. This tool was co-created with four industrial partners in this research via a design science approach that includes several case studies and focus-group meetings. Later, data on
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