"Digitize or you will become extinct in a few short years"
"Industrial companies are in the Information business whether they like it or not"
Digitizing in the industrial space
We think about this as digitization of the industrial world. We as a company didn’t go to bed one night and say, “We can’t be an industrial company anymore. We need to be more like Oracle. We need to be more like Microsoft.” It happened more on an evolutionary basis, really based on the industries we’re in and the technology we serve.
You think about a jet engine today or a locomotive or an MRI scanner. A new jet engine might have a hundred sensors on it. These sensors have the capability to take continuous data about the heat of an engine, fuel consumption, the wear of the blades, the environment it’s taking off in—a series of things. And one flight between New York City and Chicago produces a terabyte of data.
Excerpt form Interview 2015 with Rik Kirkland is the senior managing editor of McKinsey Publishing and is based in McKinsey’s New York office.
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