This Big-Data Firm Wants To Stop Flight Delays And Other Maddening Airline Problems
By Maggie Sieger – More than 60 percent of frequent flyers cite delays among the things about air travel that they find most dismaying.
Most of those costs and all of the annoyance for the passengers on that flight from LaGuardia could have been avoided if the airline had been able to predict that the part was going to fail and prevent it from happening, says Karen Thomas of Teradata, a data and analytics company.
Commercial aviation today accumulates vast lakes of data each year, around 15 billion terabytes — a billion times the size of the Library of Congress. (One terabyte of data can hold 200,000 songs or 500 hours of movies.) Being able to fish out that data will open up untold avenues for problem solving. more>
Posted in Business, Economy, Energy & emissions, Science, Technology, Transportation
Tagged Business improvement, GE, Industrial economy, Predictive maintenance, Productivity, Technology
A Bright Idea: How LEDs Are Helping JPMorgan Chase Become Carbon Neutral
By Bruce Watson – When Mike Norton took over as managing director of real estate at JPMorgan Chase & Co. in 2015, he took on a weighty responsibility that included finding an efficient and sustainable way to oversee the branding, maintenance, upkeep and design of 6,000 branches and commercial properties around the world. It was a complex task that turned on a simple item: the light bulb.
Norton started talking to the energy management company Current, powered by GE. They devised a plan for a system focusing on improving energy efficiency, productivity and sustainability in nearly 4,500 Chase branches across the U.S. In 2016, that proposal turned into a deal for the world’s largest LED lighting installation, a project covering 25 million square feet of real estate that would eventually lead to energy savings equivalent to taking 27,000 cars off the road.
One year later, Current by GE has installed LEDs in 2,500 Chase branches. The original plan estimated that the installation would lead to 12 percent energy savings. But in reality, the savings have ranged from 15 to 50 percent, depending on the branch.
“It’s common sense: You take a 100-watt phosphorus light bulb and replace it with a 4-watt LED, and it’s going to lower energy usage by quite a bit,” Norton says. more> https://goo.gl/1UiEwV
Posted in Banking, Business, Economy, Energy & emissions, Science, Technology
Tagged Business improvement, Climate change, Electronics, GE, LED lighting, Physics, Technology
A Better Way To Fly A Jet? Qantas Pilots Have An App For That.
By Amy Kover – As a flight crew fuel manager, Qantas First Officer Dave Summergreene was “blown away by the wealth of data” the airline possessed. “But as a pilot, we had no way of knowing how to improve our own operational flying efficiency because we didn’t have the data,” he says. “We needed to get this data into the hands of pilots.”
As it turns out, GE had the same idea in mind when it developed a prototype for a fuel-efficiency app for pilots. However, what GE was missing was pilots, who could provide the insight and everyday experience to make the idea work.
But in late 2016, everything clicked. Qantas and GE agreed to collaborate, and within a few months, 20 eager pilots signed on to test out the beta version of the app. The end result: FlightPulse, a new flight data and analytics application that enables pilots to measure fuel use during every stage of a flight.
John Mansfield, chief digital officer for GE Aviation and a former pilot, notes that even though the data remains anonymous, “we are all really kind of competitive. We want to get better at everything we do.”
With FlightPulse, pilots can now see data from every flight, illuminating how much fuel savings they realized, where they can make improvements and how their use of the tool compares with that of their peers.
Before FlightPulse, pilots just stuck to industry standards — model-based estimates of the most efficient ways to fly. Now, they can tweak their flying daily to precisely gauge the impact of operational decisions. more> https://goo.gl/b2nQYe
Posted in Economy, Education, Energy & emissions, Science, Technology, Transportation
Tagged Big data, Business improvement, customization, flight data, Fuel efficiency, GE
Strange Cargo: How Do You Move An 8 Million-Pound Heat-Recovery Steam Generator Down The Hudson? Swimmingly.
By Amy Kover – The journey — the first of its kind for such a machine — began in 2015, when the New Jersey-based power company PSEG ordered GE’s latest HA-class gas turbine and other equipment for a new combined-cycle power plant in Sewaren, an industrial town tucked away behind New York City’s Staten Island.
The machines included a heat-recovery steam generator, or HRSG in power-industry parlance. It recovers waste heat from the gas turbine and turns it into steam that powers a steam turbine to generate more electricity, making the power station more efficient.
GE typically arranges to have all the parts delivered to the power plant for on-site construction. However, as the project began to unfold, it became clear that building the steam generator, which is much larger than the turbines, in New Jersey was going to be a challenge. The site happens to be located in one of the country’s most densely developed areas.
To overcome this challenge, PSEG decided to build the 4,000-ton HRSG in upstate New York and ship it to New Jersey in one piece. GE worked closely with PSEG and construction firm Megrant to crack this logistical riddle. more> https://goo.gl/u8Y2mi
Posted in Business, Economic development, Economy, Energy & emissions, Nature, Product, Technology
Tagged Business improvement, GE, Industrial economy, Power plant, Transportation, Turbine
By Steve Denning – Brooks concludes blithely that “the market is working more or less as it’s supposed to.” It is therefore wrong to conclude that the U.S. economy has “structural flaws.” That is “a story that is fundamentally untrue.”
The difficulty with the argument, as Brooks well knows, is that one or two good years don’t make an era. Two years of income growth don’t undo the trauma flowing from 50 years of wage stagnation, much less lead to the conclusion that there are “no structural flaws” in the economy.
The brute fact remains that median salaries have stagnated for some 50 years. That’s the real problem of the U.S. economy that economists ought to be talking about.
When moderates deny the obvious, the disaffected inevitably turn elsewhere.
If moderates want to be listened to, they will need to take a harder look at what is going on, come up with coherent explanations for what has gone wrong, and offer plausible remedial action. more> https://goo.gl/zuoJbQ
Posted in Banking, Broadband, Business, CONGRESS WATCH, Economic development, Economy, Education, Energy & emissions, Healthcare, History, Leadership, Media, Net, Regulations, Technology, telecom, Transportation
Tagged Banking reform, Capital, Climate change, Congress Watch, Debt, Government, Leadership, United States
How I Remade GE
By Jeffrey R. Immelt – I led a team of 300,000 people for 6,000 days. I led through recessions, bubbles, and geopolitical risk. I saw at least three “black swan” events. New competitors emerged, business models changed, and we ushered in an entirely new way to invest. But we didn’t just persevere; we transformed the company. GE is well positioned to win in the future.
The changes that took in the world from 2001, when I assumed the company’s leadership, to 2017 are too numerous to mention. The task of the CEO has never been as difficult as it is today. In that vein, my story is one of progress versus perfection. The outcomes of my decisions will play out over decades, but we never feared taking big steps to create long-term value.
For the past 16 years GE has been undergoing the most consequential makeover in its history. We were a classic conglomerate. Now people are calling us a 125-year-old start-up—we’re a digital industrial company that’s defining the future of the internet of things. Change is in our DNA: We compete in today’s world to solve tomorrow’s challenges. We have endured because we have the determination to shape our own future. Although we’re still on the journey, we’ve made great strides in revamping our strategy, portfolio, global footprint, workforce, and culture. more> https://goo.gl/L9nX1b
Posted in Broadband, Business, Economy, Energy & emissions, History, Leadership, Product, Technology
Tagged Change management, culture, GE, Manufacturing, Technology, transformation
By Raya Bidshahri – When it comes to climate change, government leaders and politicians must begin to think beyond their term limits and lifetimes. They must ask themselves not how they can serve their voters, but rather how they can contribute to our species’ progress. They must think beyond the short term economic benefits of fossil fuels, and consider the long term costs to our planet.
Climate change is considered one of the greatest threats to our species. If current trends continue, we can expect an increase in frequency of extreme weather events like floods, droughts and heat waves. All of these pose a threat to crops, biodiversity, freshwater supplies and above all, human life.
Here are examples of a few countries leading the way.
Denmark: Considered the most climate-friendly country in the world, Denmark is on the path to be completely independent of fossil fuels by 2050.
China: Home to the world’s biggest solar farm, China is the world’s biggest investor in domestic solar energy and is also expanding its investments in renewable energies overseas.
France: Thanks to the production of nuclear energy, representing 80 percent of nationwide energy production, France has already reduced its greenhouse gas emissions.
India: The nation is on the path to becoming the third-largest solar market in the world. Solar power has become cheaper than coal in India.
Sweden: Sweden has passed a law that obliges the government to cut all greenhouse emissions by 2045. With more than half of its energy coming from renewable sources and a very successful recycling program, the country leads many initiatives on climate change. more> https://goo.gl/PPrn3b
Posted in Economic development, Economy, Energy & emissions, Leadership, Nature, Science, Technology
Tagged Business improvement, Climate change, Ecology, extreme weather, Renewable energy
By Basil Oberholzer – Two main problems arise from the connections between monetary policy, financial markets and the oil market: the first is financial and economic instability caused by oil price volatility. The second is an environmental problem: a lower oil price inevitably means more oil consumption. This is a threat to the world climate.
Is there a joint answer to these problems? There is. While hitherto existing policy propositions like futures market regulation or a tax on fossil energy face some advantages and disadvantages, they are not able to deal with both the economic instability and the environmental problem at the same time. What is proposed here is a combination of monetary and fiscal policy. Let’s call it the oil price targeting system.
First, to achieve economic stability in the oil market, a stable oil price is needed. Second, to reduce oil consumption, the oil price should be increasing. So, let us imagine that the oil price moves on a stable and continuously rising path in order to fulfill both conditions. To implement this, the oil price has to be determined exogenously. Due to price exogeneity, speculative attacks cannot have any influence on the price and bubbles cannot emerge anymore. The oil price target can be realized by monetary policy by means of purchases and sales of oil futures. Since the central bank has unlimited power to exert demand in the market, it can basically move the oil price wherever it wants. more> https://goo.gl/eUh85j
Posted in Banking, Book review, Business, Economic development, Economy, Energy & emissions, History, Leadership, Media, Transportation
Tagged Climate change, Financial crisis, Industrial economy, Monetary policy, Oil price
Three Reasons Why You Should Invest In Smart Cities Now
By Gary Shapiro – Smart cities are the urban landscapes of the future. Powered by the ubiquitous connectivity of the Internet of Things (IoT), smart cities collect data on a variety of factors – from pollution to traffic – and employ that data to make cities safer and more sustainable.
By 2050, the majority of the world will be living in cities – now is the time to lay the groundwork for smart building and infrastructure.
City rules shape how energy is used and how buildings are designed. As digital infrastructure evolves, the rules that govern it will become only more complex.
It’s no secret that drawing the best and brightest to a company isn’t just a matter of compensation. The workers who will add the most value over the longer term want to live and work in places that offer them affordable, sustainable housing, timely and safe transportation and a clean and pleasant atmosphere. more> https://goo.gl/AkbCZE
Posted in Broadband, Business, Communication industry, Construction, Economic development, Economy, Education, Energy & emissions, Healthcare, Leadership, Media, Nature, Science, Technology, Transportation
Tagged Broadband, digital infrastructure, GE, smart building, Smart City