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
    @inproceedings{700a8aaf0ba0486ea8a6ffba07c16032,
    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.",
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    author = "Teuvo Uusitalo and Jyri Hanski and Helena Kortelainen and Toni Ahonen",
    note = "only abstract reviewed, no issn/isbn",
    year = "2019",
    language = "English",
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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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    AU - Kortelainen, Helena

    AU - Ahonen, Toni

    N1 - only abstract reviewed, no issn/isbn

    PY - 2019

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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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    KW - value

    KW - asset management

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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