BEHIND GE’S VISION FOR THE INDUSTRIAL INTERNET OF THINGS
[Philip Lelyveld comment: This is a really good article about the internet of things - really big things producing terabytes of data per day. Locomotives and rail networks. Jet engines and flight reliability. The four tech tools described in "How to make a freight train go express" are alternative implementations of tools used in Disney Parks to optimize ride performance, guest through-put, and guest experience. Very interesting stuff.]
An approaching third wave, enabled by data and analytics, does something new. It strikes an agreement between GE and a customer for a certain kind of outcome, rather than a certain kind of functionality. It's not only about measuring whether a jet engine is working up to its specifications, or about repairing it on time, but whether it's delivering, say, the agreed-upon amount of peak operational time. "We're getting to the point of selling thrust, not engines," says Brad Surak, a software manager for the company. "Or we're selling locomotion, not locomotives. And we guarantee that back to our customers. If an engine breaks down on a Southwest Airlines jet full of passengers sitting on a tarmac and they need to take passengers out of the plane and reroute it, we pay penalties to them because of it."
See the full story here: http://www.fastcompany.com/3031272/can-jeff-immelt-really-make-the-world-1-better