In a marriage of equals, General Electric Company (GE - Free Report) and Accenture plc (ACN - Free Report) will be developing advanced applications to help companies across industries leverage industrial strength big data that is generated through their business operations. The strategic alliance between the two companies extends their relationship that was formed in 2012 with the formation of the Taleris joint venture.
In an attempt to boost efficiency and productivity, the two companies will jointly develop and market new technology services and pre-packaged solutions. The offerings include cloud-based, intelligent analytics solutions for monitoring the performance of machines, infrastructure and business processes. This helps in reducing operational downtimes and at the same time achieves supply-chain efficiencies and cost reduction.
This alliance is a win-win situation for both GE and Accenture. GE’s technology will be utilized for core application capabilities and Accenture’s Managed Mobile Services Platform (AMMS) will be used for third-parties and support device communications. The respective strengths in big data analytics and industrial software will provide customers with solutions required to proactively manage their resources. The main aim is to transform industries by connecting machines and people through the Industrial Internet. A small percentage of improvement through this endeavor is expected to reap billion of dollars in savings in varied industries.
General Electric is one of the most diversified technologies and financial service corporations in the world. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now in the industry include Compass Diversified Holdings (CODI - Free Report) and ITT Corporation (ITT - Free Report) , each carrying a Zacks Rank #2 (Buy).