General Electric's Strategy
How did GE's partnership with E.ON optimise wind farm operations?
By using software to connect turbines and enable real-time analytics and dynamic control
What is Norfolk Southern Railroad using GE’s industrial internet solutions to do?
To increase production and predict maintenance issues.
What does GE charge in its partnership with E.ON, based on their wind farm performance?
A percentage of the customer’s incremental revenue
How can IoT improve the efficiency of a supply chain?
By providing real-time data for inventory tracking, predictive maintenance, and optimising delivery times.
What type of business model did GE embrace to tie revenue to customer performance improvements?
Outcomes-based business model
Public Service Enterprise Group (PSEG) uses the industrial internet to do what?
To optimise fuel use in gas turbines
What is GE's approach to capturing value from its customers' operational data?
By integrating analytics and charging for improved performance or reduced costs, e.g., in wind farm operations
What is a key benefit of using blockchain in supply chains for data management?
Immutable records that enhance transparency and reduce fraud.
What is the name of GE's common software platform used to enable industrial internet capabilities?
Predix
Which company is using predictive analytics to optimise operations and reduce unplanned downtime in its wind turbine fleet?
GE with its wind farm projects
In GE’s new business model, what is the customer relationship focused on?
Providing long-term value through predictive and data-driven solutions
How does blockchain’s decentralised nature benefit supply chain management, especially in sectors like finance or healthcare?
It reduces reliance on central authorities, improving trust, security, and reducing operational costs.