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