Solution 2:

Common platform:

GE should work on building a common platform for all its customers, while simultaneously allowing
their existing customers to maintain their own platform as well. A common platform would allow the
company to have a single user interface and would help the development teams to roll out products
at a faster pace. Although this would prove difficult to implement for some of its existing customers
like healthcare, pertaining to its complex requirements, it’s still imperative that GE follows up on this
to completion.

External Collaboration/Partnerships:

Investing in the IOT is the next big thing that GE can do. It should collaborate with external partners
and push ahead to come up with innovative product ideas. This is again difficult because of the
massive scale at which GE operates, but its expected to bring in revenues of about $1 billion in the
next half decade if GE manages to execute a successful joint venture. These partnerships would
drastically increase GE’s capabilities to serve their clients with out of the box innovative solutions.

Customer-Centric Approach

Analytics was one area of offerings that GE couldn’t ignore any longer, although it was different from
its other areas of business, it was imperative for the clients in a world of fast paced technological
advancements. In fact, the clients were already availing such services from GE’s competitors (IBM).
GE needs to work on building these offerings at lucrative price points, and then hire an exceptional
salesforce to aggressively market and sell these offerings to their customers.

Customer confidence:

According to data of the poll conducted, 63%, 13% and 63% of GE’s customer base were connected
to networks but not using data, used data for competitive advantage and didn’t perform condition-
based maintenance respectively. GE needs educate its customer son how to best leverage their
services in their business and the benefits their networks brings to the table.