With the development of the internet of things (IoTs), big data, smart sensing technology, and cloud technology, the industry has entered a new stage of revolution. Traditional manufacturing enterprises are transforming into service-oriented manufacturing based on prognostic and health management (PHM). However, there is a lack of a systematic and comprehensive framework of PHM to create more added value. In this paper, the authors proposed an integrative framework to systematically solve the problem from three levels: Strategic level of PHM to create added value, tactical level of PHM to make the implementation route, and operational level of PHM in a detailed application. At the strategic level, the authors provided the innovative business model to create added value through the big data. Moreover, to monitor the equipment status, the health index (HI) based on a condition-based maintenance (CBM) method was proposed. At the tactical level, the authors provided the implementation route in application integration, analysis service, and visual management to satisfy the different stakeholders’ functional requirements through a convolutional neural network (CNN). At the operational level, the authors constructed a self-sensing network based on anti-inference and self-organizing Zigbee to capture the real-time data from the equipment group. Finally, the authors verified the feasibility of the framework in a real case from China.