AbstractIn the current era of technology and development, component‐based software development (CBSD) has been progressively implemented. Components are used in large products for multiple users with diverse viewpoints and are highly configurable to provide higher satisfaction. Components are reused because of their similar functionality to reduce complexity and ensure the correct interaction between interfaces during product development. However, implementation of component functionalities creates complications due to improper specification, prioritization of components requirements, encapsulated functionalities, and more human interaction. Furthermore, due to configurability and the involvement of multiple stakeholders, ambiguity and semantic issues arise in the behaviour of reusable components. To overcome semantic‐based specification and prioritization components' related issues, we propose a framework that uses text mining and case‐based reasoning (CBR) techniques. Results of our empirical evaluation demonstrate that the proposed framework significantly outperforms the conventional technique.