Across all industries, technical domain experts are retiring and being replaced by less experienced workers. Industrial machines – many of which incorporate embedded connectivity or sensitive intellectual property - are becoming more complex, and the number of machine and sensor-based data sources is constantly growing. As a result, industries are relying more and more on outsourced expertise to manage asset health, process optimization, and quality control. In today’s global and competitive marketplace, service providers differentiate their value to their customers by streamlining their cost of service, improving their recommendations, and reducing time-to-solution. Growing their businesses requires that service providers maintain and update intellectual property, optimize staff and adopt appropriate cost structures to maximize market penetration. This paper discusses the advantages of adopting a Connected Services framework to transform the business value of aftermarket services.