Real Value of Data in Managing Manufacturing Assets

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

Abstract

Manufacturing networks contain vast amounts of data over the whole life cycle of assets. There is much talk of data based services and business models but limited number of success stories from 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 providing a 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 publication14th WCEAM Proceedings
EditorsAdolfo Crespo Márquez, Dragan Komljenovic, Joe Amadi-Echendu
Place of PublicationCham
PublisherSpringer
Pages164-174
Number of pages11
ISBN (Electronic)978-3-030-64228-0
ISBN (Print)978-3-030-64227-3
DOIs
Publication statusPublished - 2021
MoE publication typeA4 Article in a conference publication
Event14th World Congress on Engineering Asset Management, WCEAM 2019 - Singapore, Singapore
Duration: 28 Jul 201931 Jul 2019

Publication series

SeriesLecture Notes in Mechanical Engineering
ISSN2195-4356

Conference

Conference14th World Congress on Engineering Asset Management, WCEAM 2019
CountrySingapore
CitySingapore
Period28/07/1931/07/19

Keywords

  • Data-driven services
  • Value
  • Asset management
  • Digitalization

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