GE 2015 Annual Report Download - page 16
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 |
 |
trial CIO, a forgotten and unappreciated role
in most industrial companies. In retrospect,
most industrial companies have outsourced
too much IT capability. Competency must be
restored to improve productivity.
Analytics provide a competitive advantage
back into the way we design our products.
The new products in our Oil & Gas business
now are optimized by digital capability. In
the future, our Onshore Solutions will embed
reservoir characterization and visualization
into submersible pumping, literally digitizing
the rocks. We will have “smart iron” to pro-
vide precision drilling. We are finding ways
to create an “invisible oil field,” one that can
optimize downhole processing with improved
environmental performance. We are creating
a valuable cycle: Analytics will enhance our
installed base; we can then use those ana-
lytics to improve our products, which grows
our own share and provides a bigger base for
our analytics.
Becoming a Digital Industrial will require
investment and will test our culture. Our
success is not a given. We are creating a
$15 billion software and digital company
inside of GE built on agile practices and
new business models. We are plugging this
software business into thousands of indus-
try-domain experts and a $226 billion services
backlog. There is no blueprint for what we are
trying to do and, at times, it will be messy.
But the opportunities for value creation are
boundless: in better products, leading to add-
ed market share; in faster growth in services;
in more productivity and higher margins. Over
the last 15 years, trillions of dollars in wealth
have been created in all kinds of consumer
Internet stocks; in the next 15 years, trillions in
wealth will be generated across the Industrial
Internet. My commitment to you is that GE will
be better positioned than any rival to create
that value and earn those rewards.
Size
+
Diversity
efficiency of scale
reduces risk
HORIZONTAL CAPABILITY
Deep domain
science
+
Experience,
insight and
capability
VERTICAL
EXPERTISE
“The essence of GE is the
unique ability
to create value from the
intersection of horizontal
capabilities with vertical
expertise.”
14 GE 2015 ANNUAL REPORT