1. A computer-implemented method comprising: receiving a request to create a modeled component, the modeled component comprising: an entity component, the entity component including a property, and a service component, the service component defining a function to be applied to the property; including a reference to the function from the service component with the property of the entity component, the property to derive a value based on a result of an execution of the function; and storing an in-memory representation of the modeled component in a memory device, the service component and the entity component defined at the same hierarchical level in the modeled component.