In the next press conference at ARC the GE spinoff GENPACT discussed their ability to produce up to 30% incremental value through industrial asset optimization program. Exponential potential exists by combining prognostics with service contract management, they showed. Prognostics is a portmanteaux word combining prognostication and diagnostics, apparently, a word I’ve never heard before.
The Genpact portfolio: connect, collect, compute, and control. They build robust and secure infrastructure for data gathering, rule based filtering and storage, and then utilize big data protocols to gather, filter, and store data, derive actionable insights from data, which enables proactive maintenance with engineering interventions and streamlined operating practices.
They provided what they called “success stories” like 10% improvement in equipment time and performance through remote monitoring setup for a power generation OEM. Of course, since all their successes were anonymized, it reduced the impact of the stories. One wonders who the clients were, and why they didn’t agree to be named. There are, to be fair, both positive and negative potential answers for this, the most positive being that the work Genpact is doing is such a big improvement that it is seen as a competitive advantage, and therefore the clients don’t want their other competitors to know. Unfortunately, the market space is so small that it is relatively easy to figure out who the clients might possibly be.
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