1. How is GE changing its business strategy and business model? What is the role of information technology in GE’s business? GE is moving its business strategy from a conventional industrial company to a more technology- centric firm, that aims to be at the top of industry. There is a particular emphasis on software that can optimize the performance of equipment, prevent breaking down of products and be able to assess a machine’s overall health via the cloud. Poor maintenance of these machines can result in big losses for the company who rely on them. Using Predix, data can be collected from industrial sensors and then the information collected can be analyzed in the cloud. This analysis would provide GE with information regarding how often these machines should be maintained and in turn would result in better performance and efficiency for the machines. A new business model is necessary to compliment this new direction and emergence into another industry for GE. It’s beneficial to have a strong relationship with their existing customer base in the industrial field aside from branching out to pipeline management and healthcare systems. The internet of things software is catered to each customer and revenue can be generated for the company through offering information.
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- Case Study, Itm Case, Is Predix The Future Of GE?