Real Value of Data in Managing Manufacturing Assets

Teuvo Uusitalo; Jyri Hanski; Helena Kortelainen; Toni Ahonen

doi:10.1007/978-3-030-64228-0_15

Real Value of Data in Managing Manufacturing Assets

Teuvo Uusitalo^*
, Jyri Hanski
, Helena Kortelainen
, Toni Ahonen

^*Corresponding author for this work

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

2 Citations (Scopus)

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 language	English
Title of host publication	14th WCEAM Proceedings
Editors	Adolfo Crespo Márquez, Dragan Komljenovic, Joe Amadi-Echendu
Place of Publication	Cham
Publisher	Springer
Pages	164-174
ISBN (Electronic)	978-3-030-64228-0
ISBN (Print)	978-3-030-64227-3
DOIs	https://doi.org/10.1007/978-3-030-64228-0_15
Publication status	Published - 2021
MoE publication type	A4 Article in a conference publication
Event	14th World Congress on Engineering Asset Management, WCEAM 2019 - Singapore, Singapore Duration: 28 Jul 2019 → 31 Jul 2019

Publication series

Series	Lecture Notes in Mechanical Engineering
ISSN	2195-4356

Conference

Conference	14th World Congress on Engineering Asset Management, WCEAM 2019
Country/Territory	Singapore
City	Singapore
Period	28/07/19 → 31/07/19

UN SDGs

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

SDG 9 Industry, Innovation, and Infrastructure

Keywords

Data-driven services
Value
Asset management
Digitalization

Access to Document

10.1007/978-3-030-64228-0_15

Cite this

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

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.",

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booktitle = "14th WCEAM Proceedings",

address = "Germany",

note = "14th World Congress on Engineering Asset Management, WCEAM 2019 ; Conference date: 28-07-2019 Through 31-07-2019",

}

Uusitalo, T , Hanski, J, Kortelainen, H & Ahonen, T 2021, Real Value of Data in Managing Manufacturing Assets. in A Crespo Márquez, D Komljenovic & J Amadi-Echendu (eds), 14th WCEAM Proceedings. Springer, Cham, Lecture Notes in Mechanical Engineering, pp. 164-174, 14th World Congress on Engineering Asset Management, WCEAM 2019 , Singapore, Singapore, 28/07/19. https://doi.org/10.1007/978-3-030-64228-0_15

Real Value of Data in Managing Manufacturing Assets. / Uusitalo, Teuvo ; Hanski, Jyri; Kortelainen, Helena et al.
14th WCEAM Proceedings. ed. / Adolfo Crespo Márquez; Dragan Komljenovic; Joe Amadi-Echendu. Cham: Springer, 2021. p. 164-174 (Lecture Notes in Mechanical Engineering).

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

TY - GEN

T1 - Real Value of Data in Managing Manufacturing Assets

AU - Uusitalo, Teuvo

AU - Hanski, Jyri

AU - Kortelainen, Helena

AU - Ahonen, Toni

PY - 2021

Y1 - 2021

N2 - 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.

AB - 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.

KW - Data-driven services

KW - Value

KW - Asset management

KW - Digitalization

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DO - 10.1007/978-3-030-64228-0_15

M3 - Conference article in proceedings

SN - 978-3-030-64227-3

T3 - Lecture Notes in Mechanical Engineering

SP - 164

EP - 174

BT - 14th WCEAM Proceedings

A2 - Crespo Márquez, Adolfo

A2 - Komljenovic, Dragan

A2 - Amadi-Echendu, Joe

PB - Springer

CY - Cham

T2 - 14th World Congress on Engineering Asset Management, WCEAM 2019

Y2 - 28 July 2019 through 31 July 2019

ER -

Real Value of Data in Managing Manufacturing Assets

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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