Real Value of Data in Managing Manufacturing Assets

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsProfessional

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 languageEnglish
Title of host publicationResilience, reliability and asset management
Subtitle of host publicationConference proceedings
PublisherFuture Resilient Systems (FRS)
Pages204-207
Number of pages4
Publication statusPublished - 2019
MoE publication typeD3 Professional conference proceedings
EventWorld Congress on Resilience, Reliability and Asset Management, WCRRA 2019 - Singapore, Singapore
Duration: 28 Jul 201931 Jul 2019
http://resilienceconference.ethz.ch/

Conference

ConferenceWorld Congress on Resilience, Reliability and Asset Management, WCRRA 2019
Abbreviated titleWCRRA 2019
CountrySingapore
CitySingapore
Period28/07/1931/07/19
Internet address

Fingerprint

Manufacturing
Assets
Service business
Industry
Value network
Life cycle
Business model
Asset management
Literature review
Manufacturing network

Keywords

  • data-driven services
  • value
  • asset management
  • digitalization

Cite this

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).
Uusitalo, Teuvo ; Hanski, Jyri ; Kortelainen, Helena ; Ahonen, Toni. / Real Value of Data in Managing Manufacturing Assets. Resilience, reliability and asset management: Conference proceedings. Future Resilient Systems (FRS), 2019. pp. 204-207
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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.

Real Value of Data in Managing Manufacturing Assets. / Uusitalo, Teuvo; Hanski, Jyri; Kortelainen, Helena; Ahonen, Toni.

Resilience, reliability and asset management: Conference proceedings. Future Resilient Systems (FRS), 2019. p. 204-207.

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsProfessional

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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.

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Uusitalo T, Hanski J, Kortelainen H, Ahonen T. Real Value of Data in Managing Manufacturing Assets. In Resilience, reliability and asset management: Conference proceedings. Future Resilient Systems (FRS). 2019. p. 204-207