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Money in the Machines

3 July 2018 – London, UK - Asset and service data hold a myriad of insights for companies that extend far beyond service operations. New research, “The Rise of Asset and Service Data Gravity”, by Vanson Bourne, sponsored by ServiceMax from GE Digital, has identified the hidden and value of asset and service data in customer equipment and machinery.

In addition to more than a four-fold return on successful service data collection and usage, companies can also put an end to costly 8% annual contract leakage and boost revenues by up to 14%.

“Clearly there is a huge opportunity for change,” said Mark Homer, Vice President Global Customer Transformation for ServiceMax. By understanding assets in real time through IoT connected sensors, collating data and predicting potential issues, organisations not only have a chance to significantly reduce service costs, they also have an opportunity to reduce inventory, improve supply chain management and even develop more innovative products that meet the needs of specific customers.”

About GE Digital
GE Digital is reimagining how industrials build, operate and service their assets, unlocking machine data to turn valuable insights into powerful business outcomes. GE Digital’s Predix portfolio – including the leading Asset Performance Management and Field Service Management applications – helps its customers manage the entire asset lifecycle. Underpinned by Predix, the leading application development platform for the Industrial Internet, GE Digital enables industrial businesses to operate faster, smarter and more efficiently. For more information, visit www.ge.com/digital.

Media Contact:
Vanessa Land
Devonshire Marketing Consultants
+44 7768 693779
vanessa@devonshiremarketing.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Devonshire Marketing in the following categories: Business & Finance, Manufacturing, Engineering & Energy, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.