The study of the world’s verbal arts offers an opportunity to consider ways that computational analysis and modeling of narratives may lead to new understandings of how they are constructed, their dynamics and relationships. Similarly, as corpus linguistics operations must define metrics, it offers an occasion to review basic interpretive concepts such as “units of analysis, context, and genre." My essay begins with an admittedly cursory overview from a novice perspective of what capabilities corpus linguistics currently possesses for the analysis and modeling of narratives. Consideration is given to the epistemological issue in the social sciences with the positivistic prescription or empiricist description of units of analysis and the potential pitfalls or advantages corpus linguistics encounters in searching for adequate equivalent terms. This review leads naturally to reflection on the crucial determinative action of context on meaning and the extent to which current computational interfaces are able to account for and integrate into global analysis of linguistic and performance dimensions such as performer, intonation, gesture, diction, idioms and figurative language, setting, audience, time, and occasion. As a tentative conclusion from this review, it can be stated that artificial intelligence for modeling narratives or devising narrative algorithms must develop capacities to account for performance dimensions in order to fulfill their analytical potential.