Improving service business of industrial companies through data: conceptualization and application

Abstract

As a consequence of the exponential growth of technologies, big data combined with increasing processing power, are leading to profound changes for industrial companies. Although the acknowledge importance of adopting a specific “big data strategy” in order to exploit the opportunity arising from servitization, how companies can do it in practice still remains poorly understood. This paper proposes a hierarchical framework to describe and operationalize the Big Data management to support servitization, in order to enable new service offerings and be able to react to fast changing customers' needs.

Keywords

• servitization
• digital servitization
• big data
• iot
• manufacturing companies