GE has created an industrial application platform called Predix, on which it is now building applications.
"We have created 40 applications," says GE Software's vice president, Bill Ruh. The applications integrate domain expertise and predictive analytics to enhance the functionality of industrial machinery.
"One of these, PowerUp in our wind turbine business, uses sensors about weather and turbine data to develop best practices to enable operators to generate up to 5% more electricity without physically changing it, which generates 20% more profit for our customers."
Another example is an application to monitor oil pipelines. Ruh says: "We are building an intelligent pipeline system which is now being installed at Columbia Oil and Gas. We are combining sensor data and data from assets that Columbia Oil and Gas has in other locations to create risk models. This allows us to assess the risk of any problem occurring by predicting where they will see problems on the pipeline."
Ruh says: "At GE we are looking at taking many large business units and enable them to become software companies. Our CEO, Jeff Immelt says that if today you wake up as an industrial company, tomorrow you wake up a software company."