Real Value of Data in Managing Manufacturing Assets

Teuvo Uusitalo; Jyri Hanski; Helena Kortelainen; Toni Ahonen

Real Value of Data in Managing Manufacturing Assets

Teuvo Uusitalo, Jyri Hanski, Helena Kortelainen, Toni Ahonen

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

Abstract

Manufacturing networks contain vast amounts of data over the whole lifecycle of assets. There is much talk of data-based services and business models but only few practical success stories in the industry. Valuation of data is identified as a major obstacle for successful service business. Actors operating in the value network may have different perspectives about the value of data and do not necessarily see the opportunities that the data offers to other actors in the network. Often the concept of data value may be limited to a single dimension such as quality or security. This paper aims at providinga more holistic perspective on the value of data in manufacturing asset management. The paper presents dimensions of data value based on a literature review. Additionally, future research needs regarding value of data in managing manufacturing assets are identified.

Original language	English
Title of host publication	Resilience, reliability and asset management
Subtitle of host publication	Conference proceedings
Publisher	Future Resilient Systems (FRS)
Pages	204-207
Number of pages	4
Publication status	Published - 2019
MoE publication type	D3 Professional conference proceedings
Event	World Congress on Resilience, Reliability and Asset Management, WCRRA 2019 - Singapore, Singapore Duration: 28 Jul 2019 → 31 Jul 2019 http://resilienceconference.ethz.ch/

Conference

Conference	World Congress on Resilience, Reliability and Asset Management, WCRRA 2019
Abbreviated title	WCRRA 2019
Country	Singapore
City	Singapore
Period	28/07/19 → 31/07/19
Internet address	http://resilienceconference.ethz.ch/

Keywords

data-driven services
value
asset management
digitalization

Access to Document

https://www.dropbox.com/s/ckqz9ysi7ea4zxe/Conference%20Proceedings%20-%20Draft%20v2.1.pdf?dl=0

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Uusitalo, T., Hanski, J., Kortelainen, H., & Ahonen, T. (2019). Real Value of Data in Managing Manufacturing Assets. In Resilience, reliability and asset management: Conference proceedings (pp. 204-207). Future Resilient Systems (FRS). https://www.dropbox.com/s/ckqz9ysi7ea4zxe/Conference%20Proceedings%20-%20Draft%20v2.1.pdf?dl=0

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title = "Real Value of Data in Managing Manufacturing Assets",

abstract = "Manufacturing networks contain vast amounts of data over the whole lifecycle of assets. There is much talk of data-based services and business models but only few practical success stories in the industry. Valuation of data is identified as a major obstacle for successful service business. Actors operating in the value network may have different perspectives about the value of data and do not necessarily see the opportunities that the data offers to other actors in the network. Often the concept of data value may be limited to a single dimension such as quality or security. This paper aims at providinga more holistic perspective on the value of data in manufacturing asset management. The paper presents dimensions of data value based on a literature review. Additionally, future research needs regarding value of data in managing manufacturing assets are identified.",

keywords = "data-driven services, value, asset management, digitalization",

author = "Teuvo Uusitalo and Jyri Hanski and Helena Kortelainen and Toni Ahonen",

note = "only abstract reviewed, no issn/isbn; World Congress on Resilience, Reliability and Asset Management, WCRRA 2019, WCRRA 2019 ; Conference date: 28-07-2019 Through 31-07-2019",

year = "2019",

language = "English",

pages = "204--207",

booktitle = "Resilience, reliability and asset management",

publisher = "Future Resilient Systems (FRS)",

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Uusitalo, T , Hanski, J , Kortelainen, H & Ahonen, T 2019, Real Value of Data in Managing Manufacturing Assets. in Resilience, reliability and asset management: Conference proceedings. Future Resilient Systems (FRS), pp. 204-207, World Congress on Resilience, Reliability and Asset Management, WCRRA 2019, Singapore, Singapore, 28/07/19. <https://www.dropbox.com/s/ckqz9ysi7ea4zxe/Conference%20Proceedings%20-%20Draft%20v2.1.pdf?dl=0>

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T1 - Real Value of Data in Managing Manufacturing Assets

AU - Uusitalo, Teuvo

AU - Hanski, Jyri

AU - Kortelainen, Helena

AU - Ahonen, Toni

N1 - only abstract reviewed, no issn/isbn

PY - 2019

Y1 - 2019

N2 - Manufacturing networks contain vast amounts of data over the whole lifecycle of assets. There is much talk of data-based services and business models but only few practical success stories in the industry. Valuation of data is identified as a major obstacle for successful service business. Actors operating in the value network may have different perspectives about the value of data and do not necessarily see the opportunities that the data offers to other actors in the network. Often the concept of data value may be limited to a single dimension such as quality or security. This paper aims at providinga more holistic perspective on the value of data in manufacturing asset management. The paper presents dimensions of data value based on a literature review. Additionally, future research needs regarding value of data in managing manufacturing assets are identified.

AB - Manufacturing networks contain vast amounts of data over the whole lifecycle of assets. There is much talk of data-based services and business models but only few practical success stories in the industry. Valuation of data is identified as a major obstacle for successful service business. Actors operating in the value network may have different perspectives about the value of data and do not necessarily see the opportunities that the data offers to other actors in the network. Often the concept of data value may be limited to a single dimension such as quality or security. This paper aims at providinga more holistic perspective on the value of data in manufacturing asset management. The paper presents dimensions of data value based on a literature review. Additionally, future research needs regarding value of data in managing manufacturing assets are identified.

KW - data-driven services

KW - value

KW - asset management

KW - digitalization

M3 - Conference article in proceedings

SP - 204

EP - 207

BT - Resilience, reliability and asset management

PB - Future Resilient Systems (FRS)

T2 - World Congress on Resilience, Reliability and Asset Management, WCRRA 2019

Y2 - 28 July 2019 through 31 July 2019

ER -