Asset Management Decisions—Based on System Thinking and Data Analysis

Kortelainen, Helena; Kunttu, Susanna; Valkokari, Pasi; Ahonen, Toni

doi:10.1007/978-3-319-09507-3_92

Cited by 8 publications

(4 citation statements)

References 7 publications

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“…Investment decisions today are largely made analytically in the framework of predefined processes analyzing continuously the same key figures more or less software-e-based resulting in the calculation of the risk/return ratios and the selected stocks and assets with the best ratios and indications [75,76]. Such an approach quantitative investment results, on the one hand, from that globalization simply means that there are many more assets available as possible investment instruments, and it is no longer possible to evaluate them individually [77].…”

Section: Csr -Environmental Social and Governance Criteria For Investorsmentioning

confidence: 99%

Integrity of the Corporate Social Responsibility and Management of Financial Services in the Digital Era

Saxunová¹,

Hector²,

Kajanová³

et al. 2022

Corporate Social Responsibility

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Financial and banking industry are exposed to enormous progress in technology in order to benefit people and companies. Even governments are preparing to move ahead from cash to a cashless economy, it is essential to look deeper how the success of the digital transformation can influence the corporate social responsibility (CSR). The research object is CSR in the digitalization era focusing on accounting and finance services. The objective of this research study is to focus on the integrity of CSR and digital technologies in finance sector assisting in human decision making, business managerial approaches towards well-being of society are analysed. Then concepts generating benefits for the society are systemized in their historical development and their analysis and comparison are applied to highlight common features, discrepancies and deviations from CSR in their historical perspective. The contributions of the paper comprise in stressing the historical perspective of CSR development and its enhancement, emphasizing selected historical personalities that impacted with their work the CSR development, and finally the necessity of integration of CSR and finance world in the digital age, i.e. the digital process of accounting and financial services. This process should contribute to the crucial SDG accomplishment–“the well-being of society”.

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Section: Csr -Environmental Social and Governance Criteria For Investorsmentioning

confidence: 99%

Integrity of the Corporate Social Responsibility and Management of Financial Services in the Digital Era

Saxunová¹,

Hector²,

Kajanová³

et al. 2022

Corporate Social Responsibility

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“…However, maintenance history data is also valuable when making asset management-level decisions, such as investment decisions. Therefore, while a considerable amount of data is stored, tacit knowledge is necessary for conscious decisions (Kortelainen et al 2015). In other words, people's competence and experience play a crucial role in decision-making (Kortelainen et al 2021).…”

Section: Proceedings Of the 5 Th European International Conference On...mentioning

confidence: 99%

Information Management in Physical Asset Management

Panegossi¹,

Silva²,

Castro³

2022

Proceedings of the International Conference on Industrial Engineering and Operations Management

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Asset management studies have shown that access to quality information is one of the main critical success factors for asset management standards implementation and effective decision-making. However, studies also show that quality asset data have been a barrier to accessing quality information because several departments process data collection and register, and rarely are integration and connection in them. The introduction of artificial intelligence machines is the latest trend in the manufacturing industry. Its primary motivation is to ensure reliable, complete data and real-time information linking all parts or elements of the value chain. Through a literature review, this research aimed to understand the role of information in physical asset management, why many researchers consider it a key dimension in manufacturing companies, and how to be information management with 4.0 machines introduction. As a result, this study suggests that it is possible to compile quality data with proper training and through ISO 55001 information requirements guidelines. However, this research also indicates that, despite currently being able to count on real-time information with 4.0 machine introduction, the companies are not prepared for such disruption. Just as the successful ISO 55001 requirements implementation is directly related to corporate culture, the new technologies acquisition and data use also depend on organizational factors. Therefore, before engaging its efforts and investing its capital in acquiring 4.0 equipment, the companies need to continue investing in its best assets: the people who will know how to use the benefits.

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“…• Information management and integration: consisting of the correct management and suitable integration of information in different asset control levels and between systems to support asset-related decisions [4], [8], [9]; • Data to information transformation: consisting of the suitable exploitation of the data to derive information (and then knowledge) from the system [10]- [12].…”

Section: Literature Review On Information and Data Managementmentioning

confidence: 99%

Conceptual Framework for a Data Model to Support Asset Management Decision-Making Process

Polenghi

Roda

Macchi

et al. 2019

IFIP Advances in Information and Communication Technology

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Information and data management is nowadays a central issue to support the Asset Management (AM) decision-making process. Manufacturing companies have to take different decisions along the asset lifecycle and at different organisational levels, and, to this end, they require proper information and data management. In the literature, besides the crucial role played by information and data, there is evidence of existing gaps, especially related to information management and integration, and transformation of data into useful information. Thus, a conceptual framework is proposed to guide the definition of a data model to fulfil the previously identified gap. Generally, the framework aims at contributing to the improvement of the integration of information along the AM decision-making process. Specifically, it is intended to be aligned with the AM theory and, in particular, its fundamentals defined in the scientific literature and the ISO 5500x body of standards. Overall, thanks to the improvement of the information management and integration along with the AM decision-making, the expectation is to be capable of achieving more value-oriented decisions for the asset lifecycle.

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Asset Management Decisions—Based on System Thinking and Data Analysis

Cited by 8 publications

References 7 publications

Integrity of the Corporate Social Responsibility and Management of Financial Services in the Digital Era

Integrity of the Corporate Social Responsibility and Management of Financial Services in the Digital Era

Information Management in Physical Asset Management

Conceptual Framework for a Data Model to Support Asset Management Decision-Making Process

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