Business Wire

Intelligent Asset and Service Data To Deliver 14% Revenue Boost

Del

Asset and service data will have a gravitational pull beyond service departments, putting a new business lens on enterprise performance, according to a new global research report, “The Rise of Asset and Service Data Gravity”, conducted by Vanson Bourne on behalf of ServiceMax from GE Digital. By automatically collecting, aggregating and analyzing service data related to industrial assets, companies expect a revenue boost of more than fourteen percent. And for every $1 spent on successful service data collection and usage, companies expect a return of $4.44 – approaching five times the initial outlay.

The research surveyed 600 IT decision makers and field service management leaders across Manufacturing, Energy and Power, Oil and Gas, Transportation, Distribution and Logistics, Telecoms and Medical/Healthcare in the USA, UK, France, Germany, Turkey, UAE and Saudi Arabia.

The study found that out of the estimated 187,470 field service work orders conducted on average each year, 15,635 (8.34 percent) of them remain unaccounted for within organizations, representing millions in lost revenue.

“Businesses are moving to outcome-based, servitized business models where monetizing service – and harnessing field service data – is critical to success,” said Mark Homer, Vice President Global Customer Transformation for ServiceMax, a GE Digital company. “In a servitized world, the asset is king, and everything revolves around it, such as uptime, availability, mitigating downtime, asset estate insight, performance metrics, and supply chain. With digitization, service data is a subset of the asset data, and both hold untapped insights for almost every line of business – from sales, R&D, IT, finance, marketing and Corporate Social Responsibility, and it also has a huge impact on Overall Equipment Effectiveness in terms of performance, capacity, quality, and uptime. The rise of this ‘asset and service data gravity’ is changing the way businesses view and monetize their service operations.”

Almost all 600 of the organizations surveyed (ninety nine percent) believe that other parts of the business outside of service can benefit from both the automation and better usage of service data. And eighty five percent think service data should be central to decision making, while eighty seven percent believe it will have a positive impact on their ability to remain competitive.

“Businesses are expected to have value conversations with customers, rather than product discussions,” added Homer. “As the growing value of service data is increasingly recognized outside of the service department, it is best exploited through a digital platform approach, rather than piecemeal to enable every line of business to positively benefit from its insights.”

For more details about the research and the changing role of asset and service data, click here.

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.

Contact information

Devonshire Marketing Consultants
Vanessa Land, +44 7768 693779
vanessa@devonshiremarketing.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

NEC and Samsung Announce 5G Partnership Agreement24.10.2018 01:00Pressemelding

NEC Corporation (NEC) (TOKYO: 6701) and Samsung Electronics Co., Ltd., today announced a partnership of joint effort to strengthen their next generation business portfolio including 5G. The partnership brings together the best-in-class technology and expertise in 5G, merging NEC and Samsung’s leadership in 5G and IT solutions. It also provides mobile carriers with flexible 5G solutions that are localized for each region with customized services to meet mobile carriers’ demands efficiently. Since 5G will enable unprecedented services and business models, it is inevitable for mobile carriers to demand customized solutions and flexible network architecture. Through this partnership, both companies will satisfy these growing demands effectively by joining the best forces and capabilities from each company. "5G development based on standardization will help to accelerate business transformation throughout global markets,” said Atsuo Kawamura, Executive Vice President and President of the Ne

Coronation Fund Managers Goes Live with SmartStream’s Corporate Actions Solution23.10.2018 23:01Pressemelding

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced that Coronation Fund Managers, one of the largest independent fund managers in South Africa, has gone live with TLM Corporate Actions OnDemand – automating the complete corporate actions lifecycle. Llewellyn Smith, COO at Coronation states: “We continue to make investments in our business, specifically in technology that enhances our clients’ service experience, and which allows us to achieve greater operational efficiencies. Through SmartStream’s tailored solution, we achieve automation of our corporate actions operational processes. Given that this project ran in parallel with a number of strategic initiatives, its successful implementation was essential. We value SmartStream’s corporate actions expertise which guided us through the procedure in less than four months”. Coronation is using the TLM® Corporate Actions OnDemand solution to process mandatory and voluntary ev

EASA Approves AerTrak ADS-B Out System for Boeing 737 NG Series Aircraft23.10.2018 21:47Pressemelding

AerSale ®, a global supplier of mid-life aircraft, engines, used serviceable material, and MRO services, announced today that the European Aviation Safety Agency (EASA) has approved the company’s AerTrak™ ADS-B Out system on Boeing 737 NG series aircraft (10065422). Earlier this year, the Federal Aviation Administration (FAA) approved AerTrak for Boeing 737 NG series aircraft (ST04009NY) and Boeing 757-200 series aircraft (ST04011NY) to comply with the FAA’s Automatic Dependent Surveillance-Broadcast (ADS-B) Operations rule. The Boeing 757-200 series aircraft Supplemental Type Certificate (STC) is now pending EASA and National Civil Aviation Agency of Brazil (ANAC) validation. “With this validation, we demonstrate our commitment to our European customer base,” said Iso Nezaj, Chief Technical Officer at AerSale. “Operators can now choose a fully-compliant ADS-B Out system visible to all—with no certification fees. We’re working to expand AerTrak to cover additional aircraft types and lo

Greene Tweed Receives Patent for Rapid Gas Decompression-Resistant Fluoroelastomers and Molded Articles23.10.2018 21:00Pressemelding

The U.S. Patent Office has awarded Greene Tweed Patent Number 10,011,690 for Rapid Gas Decompression-Resistant Fluoroelastomer Compositions and Molded Articles. The innovative elastomer technology was developed by a team that included inventor Ron Campbell, PhD, Principal Scientist and Technology Leader for Elastomers in Greene Tweed’s Advanced Technology Group, to provide a competitive advantage in the Energy market and expand technology protected under a previous patent. Rapid gas decompression (RGD) often occurs when high-pressure gas molecules migrate into an elastomer at a compressed state. When the pressure surrounding the elastomer is suddenly released, the compressed gas inside the elastomer tries to expand and exit the elastomer, thus causing RGD (also known as explosive decompression). Most elastomers experience severe blistering or cracking when the force of these expanding gases overcome the strength of the surrounding material; however, materials engineered to withstand RG

Morinaga Milk Study Suggests Infant-Type Human-Residential Bifidobacteria May Benefit Infant Health by Improving Digestion of Peptides in Milk and Grains23.10.2018 18:00Pressemelding

Scientists at Morinaga Milk Industry Co., Ltd. (TOKYO:2264) have long theorized that Human-Residential Bifidobacteria (HRB) are superior to non-Human-Residential Bifidobacteria (non-HRB) in promoting good health outcomes. The results of a new study strengthen the evidence for this theory, showing that infant-type HRB may be able to break down incompletely digested peptides in the infants’ gastrointestinal systems and thus contribute to their overall health. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181023005015/en/ Fig 1. Food-derived opioid peptides are potential risk factors for human health (Graphic: Business Wire) Human-Residential Bifidobacteria for Humans Morinaga Milk has been conducting research on bifidobacteria for many years, and studies over the past decades have shown that bifidobacteria play a vital role in various aspects of human health. There are two major groups of bifidobacteria: Human-Residential Bif

myPOS Founder Christo Georgiev Announces Two Upcoming myPOS Stores in Barcelona and Paris23.10.2018 16:22Pressemelding

Christo Georgiev, fintech entrepreneur and founder of myPOS, has confirmed his intention to open two new flagship stores in major European cities by the end of the year. The opening is part of an initiative to bring the product closer to potential customers, giving them a hands-on experience and a live demonstration of what myPOS has to offer. The two new stores will be opened in Barcelona, Spain and Paris, France – two of the most important markets for myPOS. “Our Spanish and French customers have always placed a tremendous amount of trust in us, and we in turn have worked hard to justify it,” Georgiev says. “Opening physical locations in Barcelona and Paris is an extension of that relationship. It’s important to test a product with your own hands before you choose to trust it, and if that’s true for TVs and phones why can’t it apply to POS terminals?” The Barcelona store will open as soon as November, followed shortly by the Paris one before the end of the year. myPOS has already ope