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A Framework for Continuous Assessment of IT Value in Industry 4.0

In: Digital Transformation in Industry

Author

Listed:
  • João Lemos

    (Department of Informatics Engineering)

  • Filipe Baptista

    (Department of Informatics Engineering)

  • João Barata

    (Department of Informatics Engineering)

Abstract

Assessment of the value of information technology (IT) is one of the most challenging priorities for modern organizations. The topic has been studied for decades but the continuous nature of digital transformation in industry (DTI) has added a new dimension to the problem. This paper presents a framework to capture IT value over time, supporting industries in (1) monitoring the outcomes of their digital transformation and (2) evaluating the need for new investments. The framework is inspired in the literature of IT value and extended to the dynamic, integrated and boundary spanning logic of Industry 4.0. The difficulty to prove the holistic value of IT investments is an obstacle to the necessary developments in industry. Moreover, similarly to DTI, IT value assessment is multidimensional and should be the result of an ongoing evaluation supported by evidence. Our proposal offers a starting point to create new tools to assist C-level managers steer their investments and make visible the inevitability of digitalization to compete.

Suggested Citation

  • João Lemos & Filipe Baptista & João Barata, 2021. "A Framework for Continuous Assessment of IT Value in Industry 4.0," Lecture Notes in Information Systems and Organization, in: Vikas Kumar & Jafar Rezaei & Victoria Akberdina & Evgeny Kuzmin (ed.), Digital Transformation in Industry, pages 25-36, Springer.
    • Handle: RePEc:spr:lnichp:978-3-030-73261-5_3
    DOI: 10.1007/978-3-030-73261-5_3
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