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CHAPTER 6 The Race for Remarkable Results Flashcards

1
Q

What American company has been redesigning industrial equipment with digital functionality?

A

John Deere

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2
Q

What innovation did Deere introduce in the mid-1990s to help farmers?

A

GPS-steered tractor

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3
Q

What type of strategy did Deere pursue long before it became fashionable?

A

Agritech strategy

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4
Q

What kind of services does Deere offer to improve their customers’ bottom lines?

A

Fusion services

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5
Q

What is the purpose of sensors added to Deere’s machines?

A

To collect product-in-use data

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6
Q

What does Deere’s JDLink system allow them to do?

A

Learn from all machines of the same type across many farms

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7
Q

How many measurements does Deere collect per second from connected machines?

A

Between 10 million and 15 million measurements

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8
Q

What are the two types of analyses Deere focuses on to gain competitive advantage?

A

Predictive and prescriptive analyses

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9
Q

What key technology did Deere acquire from Bear Flag Robotics in 2021?

A

Autonomous driving technology

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10
Q

What does the See & Spray system allow farmers to do?

A

Selectively spray only on weeds

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11
Q

What is the benefit of Deere’s ExactShot technology?

A

Reduces fertilizer use by up to 60 percent

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12
Q

What does Deere’s digital architecture stack include?

A
  • Hardware and software
  • GPS-driven guidance
  • Connectivity back to operations center
  • Automation for machine IQ
  • Autonomy
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13
Q

What is a significant challenge for industrial companies in delivering fusion services?

A

Convincing customers to participate in digital interlinking

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14
Q

What is the goal of Deere’s innovations?

A

Increasing farm profits

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15
Q

What do data network effects allow Deere to do?

A

Create new value with proprietary insights

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16
Q

What must industrial companies do to design products for fusion services?

A

Integrate them into customers’ operations

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17
Q

Fill in the blank: Deere’s See & Spray system generates a _______ map and a weed pressure map.

A

Spraying

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18
Q

What is the holy grail of industrial services according to the text?

A

Customization at scale and speed

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19
Q

What are the four key aspects of creating fusion services?

A
  • Integrating into customer operations
  • Employing datagraphs for analyses
  • Leveraging algorithms for tailored recommendations
  • Developing future value propositions
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20
Q

True or False: Deere has shifted from break-fix maintenance to predictive maintenance.

A

True

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21
Q

What is the first step for industrial companies to become fusion services leaders?

A

Architecting new services with digital hooks

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22
Q

What does the term ‘fusion services’ refer to?

A

Interlinking products with key business processes at customer operations

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23
Q

What is the main focus of Deere’s San Francisco laboratory?

A

Classifying grains using computer vision

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24
Q

What is a major benefit of Deere’s automation features in tractors?

A

Reduces operators’ strain and input costs

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25
Fill in the blank: Deere's innovations aim to enhance _______ and effectiveness of farming operations.
Efficiency
26
What do business customers typically prefer regarding industrial companies?
To stay detached from their operations
27
What is one way to begin the conversation about digital interlinking?
Align with a newer business priority, such as sustainability or supply chain resilience
28
What principle does Unilever follow for regenerative agriculture?
Have positive effects on soil health, water and air quality, carbon capture, and biodiversity
29
Name two companies that could use Unilever's regenerative agriculture principle to interconnect data links.
* Deere * CNH Industrial * Bayer * Cargill
30
How can industrials show the value of data hooks?
By enabling end-to-end visibility and revealing alternative ways to mitigate and manage supply chain risks
31
What is the flywheel effect in the context of customer interlinking?
Pushing a heavy flywheel to generate momentum until it starts spinning faster by itself
32
How did AGCO manage the initial days of the pandemic?
By aligning with new priorities of customers to trigger the flywheel effect
33
What can aid industrials in educating customers about the value of real-time data?
Examples from asset-light settings and simulations based on pilot experiments
34
Fill in the blank: Uber showed the value of real-time data in _______.
trucking and logistics
35
What is the purpose of offering discounts or subsidies for fusion services?
In exchange for proprietary data
36
What must incumbents demonstrate to compete effectively with digital startups?
* Depth of domain knowledge * Capability to learn continuously from data * Ability to provide actionable recommendations for machines in real time
37
What does the shift to a fusion services strategy change?
The competitive landscape
38
What should performance metrics be based on in the context of fusion services?
The buyer's business, not the seller's
39
What organizational change did Deere announce in 2020?
A new structure to drive an integrated product road map and related investments
40
Why is extending digital performance twins into customer operations important?
To obtain richer and fresher data
41
What is the role of CEOs in integrating digital twins?
Championing the integration of digital twins beyond their company
42
What is a tripartite twin?
Focused on how machines impact customer profitability
43
What is the critical step in delivering fusion services?
Shifting focus beyond machines and treating customer operations as an extension of the company
44
What is the minimum viable fusion services (MVFS)?
A prototype of how to cocreate the service offering with eager customers
45
What should the next phase after MVFS involve?
Developing a refined service offering for early enthusiasts
46
What should acceleration plans recognize regarding alliances?
The importance of potential alliances or acquisitions
47
What transformation did IBM undergo decades ago?
Shift from hardware manufacturer to B2B services provider
48
What was a significant acquisition made by Monsanto in 2013?
Acquisition of the Climate Corporation
49
What does McKinsey estimate the digitization of farms could deliver per acre?
$200 to $800 of value unlocked
50
What is unbundled pricing in the context of fusion services?
Where buyers pay for the fusion product as before, without additional clauses
51
True or False: Pure-play service companies only provide services tied to specific products.
False
52
What kind of contracts could industrials enter into to collect additional data?
Contracts that yield no revenues
53
What percentage of companies in McKinsey's study saw positive gains from digitization initiatives?
30 percent to 40 percent
54
What is the frontier of value from fusion services based on?
Datagraphs that accumulate data across different settings and powerful algorithms
55
What percentage of companies are expected to see positive gains from digitization initiatives?
30 percent to 40 percent
56
What is the primary benefit of leveraging data network effects in digitization?
Higher gains through personalized recommendations
57
What role do dealers and distributors play in service delivery for industrial companies?
They have tacit knowledge that complements codified data from sensors and satellites
58
What is required for delivering fusion services?
Human interventions to fix machines that do not self-diagnose and self-heal
59
What should CEOs consider regarding their business scope in the digital age?
Focus on the digital technology stack to redesign machinery and integrate with product datagraphs
60
Fill in the blank: Fusion services are about improving customer outcomes through superior expertise and _______.
personalized recommendations
61
What did GE Aviation use to model the performance of GE-90 engines in the Emirates fleet?
Digital twins
62
What was the financial challenge faced by GE Aviation and Emirates Airlines?
Servicing engines more often than planned increased costs for both parties
63
How does Caterpillar enhance customer outcomes?
By using digital twins for data-driven insights and ultra-granular forecasting
64
What is the significant shift in digitization about?
Evolution from systems of record to systems of datagraphs
65
What distinguishes Tesla's knowledge base from traditional automobile insurers' databases?
Data about how each vehicle owner drives their car under Autopilot versus other conditions
66
What should service knowledge bases be designed to study?
Patterns across customers, contexts, and conditions
67
True or False: The service frontier for industrial companies only involves delivering machines.
False
68
What must industrial companies assess to pursue new opportunities beyond machines?
The likelihood of value migrating from products to services
69
Which companies pose a competitive threat to established firms like Deere?
New, digitally savvy service providers like Trimble, Farmers Edge, and Granular
70
What should Deere focus on to maintain its service value proposition?
Distinctive data on how its machines could enhance farm productivity
71
What must industrial giants rethink to win the race for remarkable results?
Their service value propositions and customer relationships
72
Fill in the blank: New service value will be unlocked with recommendations derived from _______.
datagraphs
73
What strategy can industrial companies consider if new service opportunities are unattractive?
Integrating machines with complementary products into coherent systems

Fusion Strategy (10 decks)

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