Collaboration event with Data to Wisdom project
SmartAdvantage and Data to Wisdom projects held a joint event where industrial companies and research organizations shared their thoughts on digitalization and circular economy. Results: D2W_SmartAdvantage__WS_Results_170915.pdf
Third project workshop
The third project workshop was organised in April 2017. The workshop focused on business models. The group discussion concentrated on how the business models need to be changed when moving towards data driven service provision. The Business Model Canvas was used as a tool for structuring the discussions.
Key observations from the discussion included the following:
- Value proposition needs to be carefully considered when transforming to data driven business. Understanding customer needs is central.
- Customer relationships become continuous and are based on mutual trust. Open APIs are important. Customers will be important partners when the focus is on customers' lifecycle.
- Channels to reach customers are more direct. Reaching customers will be easier through global digital channels.
- Cost structures will change. There will be new types of costs related to data collection, storage and analysis.
- Data sharing with customers and partners need to be carefully planned and agreed with all involved organisations.
Second project workshop
SmartAdvantage project organised its second workshop in January 2017. The workshop concentrated on knowledge-based data analytics. Researchers shared results from previous projects and experiments and provided ground for discussion. The following topics were presented and discussed
- Stochastic simulation (presenter Jouko Laitinen)
- Utilisation of process data (presenter Tauno Toikka)
- Systems of systems modelling (presenter Henri Vainio)
- Analysis of maintenance data (presenter Susanna Kunttu)
- Usewood demo (presenters Ananda Chakraborti and Olli Usenius)
It was discussed that, in many cases, large amounts of data are collected currently but companies do not have readiness to effectively utilize the data. Knowledge of the behavior of the technical systems and understanding of the phenomena in the production systems were found very important in the development of the new analytics solutions. Thus, it was agreed that different skills and expertise need to be integrated. Presentation on the analysis of maintenance data showed that utilization of the available data may start with simple / simplified models and there is an opportunity to gain promising results right from the beginning. From the perspective of the industrial partners, the most significant application areas for data analytics are currently related to maintenance. However, companies are seeking for new opportunities to support productivity improvements in customers' operations.
New business from big data
Helena Kortelainen from VTT and Kari Koskinen from Tampere University of Technology discuss the new opportunities related to digitalization and exploitation of data: https://vttforindustry.com/2017/02/24/new-business-from-big-data/
First project workshop
SmartAdvantage project organised its first workshop in November 2016. The workshop concentrated on sharing information about the objectives of the company cases and utilisation of knowledge from relevant previous projects. In addition, the workshop discussed the following themes:
- Enablers and barriers for digitalisation
- Data management, collection and treatment of data
- Services and business models
Key enabling factors for digitalisation identified in the workshop were e.g. partnerships, rapid experiments, internal communication, training, and marketing. Digitalisation opens new opportunities for internationalisation and developing new types of services. Knowledge-based services can be developed to minimize downtime, optimising value chains, measuring lead-times and analysing bottlenecks.
Data availability is usually not a problem. Large amounts of data are collected, but many times only a fraction of the data is utilised. Data analytics is an area where more know-how and competences would be needed.
Digitalisation enables development of new business models. It is important to develop the business model so that the value proposition is clear and describes the added value for the customers. Revenue models need to be well specified and proper KPIs to indicate the benefits need to be developed. Development of new digital services signifies that customer needs should be well understood. Delivery of new type of services usually requires partnerships. Development of these partnerships is important part of the business model development.