Glossary

DPS (Digital Product-Service) system

A Digital Product-Service (DPS) system is a software system that helps equipment manufacturers operate their connected services.
The system acts as the backbone of the connected product-service system. It processes and analyzes data received from connected products to detect events, recognize usage patterns, generate valuable insights, highlight situations requiring attention, provide recommendations, and automate actions.
The system also acts as a central hub, distributing relevant information to all stakeholders in the product-service system according to their roles, jobs, needs, and goals.
By leveraging this software, manufacturers can offer data-driven services to support their end customers in achieving and maximizing expected outcomes from their products. At the same time, the system allows them to minimize the risks and costs they incur in providing the service.
Put simply, a DPS is the digital companion of a product-service system.

Connected Service

A Connected Service is a service offered to the end customer of a product, made possible by the fact that the product is permanently connected to a central information system, through IoT technologies.

Servitization

“Servitization is the transformation of a business to compete through a combination of services and products, rather than products alone.”

Digital Servitization

“Digital servitization refers to the utilisation of digital technologies for the transformation whereby a company shifts from a product-centric to a service-centric business model.”

PSS (Product-Service System)

What is a PSS (Product-Service System)?