This project aims to develop a robust framework to enable businesses to identify, collect, and leverage relevant digitally augmented product data for strategic growth. By addressing challenges faced by the partners, the project will create scalable solutions that integrate data into decision-making processes, unlocking opportunities for innovation and market expansion. With the rise of smart products, the framework will help businesses transition toward data-driven services, enhancing their competitiveness. Key objectives include defining critical data for innovation, developing collection and integration methods, and designing actionable decision-making models.
The project’s structure emphasizes co-creation, with partners actively involved in scoping, framework development, system integration, and knowledge sharing. The anticipated impacts include cost savings, increased revenue by inspiring new value creations and revenue streams, and improved innovation capacity for the business partners. Broader benefits include industry dissemination, collaborative opportunities, and contributions to academic knowledge and societal well-being. The framework’s potential for further development—such as incorporating AI, IoT, and ethical guidelines—opens pathways for future research and commercialization, ensuring long-term value for businesses and the wider community.