Anna Hiltunen

With the advent of new digital technologies, manufacturers are gradually moving away from traditional products towards a stringer focus on sophisticated digital services (“digital servitization”) and the development of B2B platforms that enable new forms of industrial value propositions. The collection of diverse data sets enabled by connectivity through cyber-physical systems opens untapped business opportunities for industrial manufacturers transforming their business models. However, the development of viable new business models that effectively create and capture monetary value from data remains challenging. There is a clear need to understand how industrial manufacturers can design innovative value propositions and revenue mechanisms through the integration of digital and physical assets  Thus, this study addresses the central research question: How can manufacturing firms develop innovative business models that integrate physical and digital assets to generate new innovative value offerings?

This research adopts a qualitative, interdisciplinary case study approach combining business, engineering, and computer science perspectives. It investigates the strategic, organizational, and infrastructural requirements for monetizing product-generated data and for creating integrated digital service platforms. Empirical data is collected through interviews with industrial machinery manufacturers and their ecosystem partners to uncover challenges, solutions, and mechanisms that enable effective data-driven business model innovation.

The study advances both theoretical understanding of digital servitization and B2B platform innovation in industrial contexts; and offers practical guidance for manufacturers seeking to generate new revenue streams and strengthen long-term customer relationships. Insights will help managers identify enablers and barriers to value creation and capture through data-based services.

Existing studies often focus on either technology or management, overlooking the interdisciplinary nature of digital transformation. This research uniquely integrates multiple perspectives to develop a holistic understanding of how industrial firms can successfully transition toward profitable, data-driven business models.