Innovating data-sharing concept for industrial asset lifecycle: challenges and opportunities

Tuija Rantala; Jukka Kääriäinen; Ella Hatara; Pasi Valkokari; Kirsi Kokkonen

Innovating data-sharing concept for industrial asset lifecycle: challenges and opportunities

Tuija Rantala^*
, Jukka Kääriäinen
, Ella Hatara
, Pasi Valkokari
, Kirsi Kokkonen

^*Corresponding author for this work

Lappeenranta-Lahti University of Technology LUT

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific

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Abstract

This article aims to innovate a concept that promotes data sharing in industrial asset lifecycle management. The research identifies different actor roles and reveals data-sharing challenges and opportunities within the asset management ecosystem. A qualitative case study was conducted in the industrial asset management sector, based on semi-structured interviews with 23 representatives of seven companies. These companies are associated with industrial assets in the forestry sector and involve stakeholders responsible for the lifecycle management of these assets. The identified challenges related to data sharing include technical limitations, problems with data quality and security, inadequate organizational models and lack of understanding of the value of data. The opportunities range from process improvements and asset maintenance to advances in sustainability and entirely new business prospects. The concept offers insights into innovations in industrial asset management and enhanced collaboration through data sharing.

Original language	English
Title of host publication	Proceedings of the XXXVI ISPIM Innovation Conference
Editors	Iain Bitrain, Stephen Conn, Alex Mitsis, Paavo Ritala, Marko Torkkeli, Meriam Trabelsi
Place of Publication	Bergen
Publisher	International Society for Professional Innovation Management ISPIM
Number of pages	17
ISBN (Electronic)	978-952-65069-9-9
Publication status	Published - 18 Jun 2025
MoE publication type	B3 Non-refereed article in conference proceedings
Event	XXXVI ISPIM Innovation Conference: Innovation Powered by Nature - Radisson Blu Royal Hotel, Bergen, Norway Duration: 15 Jun 2025 → 18 Jun 2025 Conference number: XXXVI https://www.dropbox.com/scl/fi/rwunrg321ib41tncmeccw/2025_ISPIM_Bergen_Programme.pdf?rlkey=uk2n9o34x5z087o645c4sy2oy&e=1

Conference

Conference	XXXVI ISPIM Innovation Conference
Abbreviated title	ISPIM
Country/Territory	Norway
City	Bergen
Period	15/06/25 → 18/06/25
Internet address	https://www.dropbox.com/scl/fi/rwunrg321ib41tncmeccw/2025_ISPIM_Bergen_Programme.pdf?rlkey=uk2n9o34x5z087o645c4sy2oy&e=1

Funding

This research was funded by Business Finland (grant numbers 6064/31/2023 and 214/31/2024).

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 9 Industry, Innovation, and Infrastructure

Keywords

asset management
Asset lifecycle
data utilisation
data economy
Colife concept

Access to Document

20250415Rantala_etal_ISPIMBergen_finalFinal published version, 532 KB

Cite this

Rantala, T., Kääriäinen, J., Hatara, E., Valkokari, P., & Kokkonen, K. (2025). Innovating data-sharing concept for industrial asset lifecycle: challenges and opportunities. In I. Bitrain, S. Conn, A. Mitsis, P. Ritala, M. Torkkeli, & M. Trabelsi (Eds.), Proceedings of the XXXVI ISPIM Innovation Conference International Society for Professional Innovation Management ISPIM.

Rantala, Tuija ; Kääriäinen, Jukka ; Hatara, Ella et al. / Innovating data-sharing concept for industrial asset lifecycle: challenges and opportunities. Proceedings of the XXXVI ISPIM Innovation Conference. editor / Iain Bitrain ; Stephen Conn ; Alex Mitsis ; Paavo Ritala ; Marko Torkkeli ; Meriam Trabelsi. Bergen : International Society for Professional Innovation Management ISPIM, 2025.

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abstract = "This article aims to innovate a concept that promotes data sharing in industrial asset lifecycle management. The research identifies different actor roles and reveals data-sharing challenges and opportunities within the asset management ecosystem. A qualitative case study was conducted in the industrial asset management sector, based on semi-structured interviews with 23 representatives of seven companies. These companies are associated with industrial assets in the forestry sector and involve stakeholders responsible for the lifecycle management of these assets. The identified challenges related to data sharing include technical limitations, problems with data quality and security, inadequate organizational models and lack of understanding of the value of data. The opportunities range from process improvements and asset maintenance to advances in sustainability and entirely new business prospects. The concept offers insights into innovations in industrial asset management and enhanced collaboration through data sharing.",

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booktitle = "Proceedings of the XXXVI ISPIM Innovation Conference",

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note = "XXXVI ISPIM Innovation Conference : Innovation Powered by Nature, ISPIM ; Conference date: 15-06-2025 Through 18-06-2025",

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Rantala, T, Kääriäinen, J, Hatara, E , Valkokari, P & Kokkonen, K 2025, Innovating data-sharing concept for industrial asset lifecycle: challenges and opportunities. in I Bitrain, S Conn, A Mitsis, P Ritala, M Torkkeli & M Trabelsi (eds), Proceedings of the XXXVI ISPIM Innovation Conference. International Society for Professional Innovation Management ISPIM, Bergen, XXXVI ISPIM Innovation Conference, Bergen, Norway, 15/06/25.

Innovating data-sharing concept for industrial asset lifecycle: challenges and opportunities. / Rantala, Tuija; Kääriäinen, Jukka; Hatara, Ella et al.
Proceedings of the XXXVI ISPIM Innovation Conference. ed. / Iain Bitrain; Stephen Conn; Alex Mitsis; Paavo Ritala; Marko Torkkeli; Meriam Trabelsi. Bergen: International Society for Professional Innovation Management ISPIM, 2025.

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific

TY - GEN

T1 - Innovating data-sharing concept for industrial asset lifecycle: challenges and opportunities

AU - Rantala, Tuija

AU - Kääriäinen, Jukka

AU - Hatara, Ella

AU - Valkokari, Pasi

AU - Kokkonen, Kirsi

N1 - Conference code: XXXVI

PY - 2025/6/18

Y1 - 2025/6/18

N2 - This article aims to innovate a concept that promotes data sharing in industrial asset lifecycle management. The research identifies different actor roles and reveals data-sharing challenges and opportunities within the asset management ecosystem. A qualitative case study was conducted in the industrial asset management sector, based on semi-structured interviews with 23 representatives of seven companies. These companies are associated with industrial assets in the forestry sector and involve stakeholders responsible for the lifecycle management of these assets. The identified challenges related to data sharing include technical limitations, problems with data quality and security, inadequate organizational models and lack of understanding of the value of data. The opportunities range from process improvements and asset maintenance to advances in sustainability and entirely new business prospects. The concept offers insights into innovations in industrial asset management and enhanced collaboration through data sharing.

AB - This article aims to innovate a concept that promotes data sharing in industrial asset lifecycle management. The research identifies different actor roles and reveals data-sharing challenges and opportunities within the asset management ecosystem. A qualitative case study was conducted in the industrial asset management sector, based on semi-structured interviews with 23 representatives of seven companies. These companies are associated with industrial assets in the forestry sector and involve stakeholders responsible for the lifecycle management of these assets. The identified challenges related to data sharing include technical limitations, problems with data quality and security, inadequate organizational models and lack of understanding of the value of data. The opportunities range from process improvements and asset maintenance to advances in sustainability and entirely new business prospects. The concept offers insights into innovations in industrial asset management and enhanced collaboration through data sharing.

KW - asset management

KW - Asset lifecycle

KW - data utilisation

KW - data economy

KW - Colife concept

M3 - Conference article in proceedings

BT - Proceedings of the XXXVI ISPIM Innovation Conference

A2 - Bitrain, Iain

A2 - Conn, Stephen

A2 - Mitsis, Alex

A2 - Ritala, Paavo

A2 - Torkkeli, Marko

A2 - Trabelsi, Meriam

PB - International Society for Professional Innovation Management ISPIM

CY - Bergen

T2 - XXXVI ISPIM Innovation Conference

Y2 - 15 June 2025 through 18 June 2025

ER -

Innovating data-sharing concept for industrial asset lifecycle: challenges and opportunities

Abstract

Conference

Funding

UN SDGs

Keywords

Access to Document

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Cite this