General Electric Adds to Its 'Industrial Internet' - NYTimes.com - 0 views
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“The rise of industrial big data is moving at twice the speed of other big data. That’s a great opportunity.” said William Ruh, the head of global software at G.E. “There’s all kinds of experiences that we’re going to create.”
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The other is a kind of application software to help power companies figure out how to best build out and operate their turbines. By October, G.E. hopes to have similar applications out for railway, mining, and oil and gas companies.
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Effectively, G.E. is taking the data-driven tools and strategies used by Google and Facebook to the much larger global economy.
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G.E. already manages more than 100 million data-gathering “tags” on its products, and foresees putting out far more than that while also collecting sensor data around the surrounding environment.
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By 2020, GE figures, total spending on the Industrial Internet will be $23 billion. Better management of processes and understanding of systems will yield $1.279 trillion in value, the company said.
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Cisco Systems is in the middle of an “Internet of Everyhing” strategy that involves selling software and services for a world rich in sensors. This is aimed more at things like traffic and water systems than manufacturing, however.
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Phillips is also offering data-gathering connectivity in both its health care and lighting products, hoping to boost the efficiency of things like a patient’s medication adherence, or tuning lights
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“Everybody knows they’ll need this technology, but they don’t know exactly what they’ll do with it yet,”