Caterpillar uses data analytics to differentiate itself from competitors by providing information services.
Answer the following statement true (T) or false (F)
True
More recently, Caterpillar has looked to big data to help it grow its business. In a study of one malfunctioning machine owned by a large mining company, Cat concluded that the new technology of the firm would have reduced repair costs from the 650,000 USD the mining company incurred to 12,000 USD by identifying an emerging problem before it did serious damage. Thus, Cat sees this technology as allowing it to better serve both its customers and dealers, resulting in new sources of income for Cat as customers see value in buying ongoing data-access and software subscriptions.
You might also like to view...
Credit entries are used to
a. increase asset accounts. b. increase liability accounts. c. decrease revenue accounts. d. decrease liability accounts.
In the context of the entrepreneurial strategy matrix, a novel product idea that involves a large financial investment would be described as
A. low innovation/no risk. B. low innovation/high risk. C. high innovation/high risk. D. high innovation/low risk. E. low innovation/low risk.
Group maintenance behavior would be exhibited by a project manager who:
A) Provides the necessary support and technical assistance. B) Plans and schedules activities and resources appropriately. C) Contributes to the completion of project assignments. D) Works with subordinates to understand their problems.
The overall characteristics of a product that allow it to perform as expected in satisfying customer needs is
A. quality. B. consistency. C. durability. D. functionality. E. design.