49
+2%
8,672 $m

Siemens, the German multinational engineering and electronics conglomerate, maintains its market leadership position by remaining at the forefront of R&D in the energy, industry, healthcare and infrastructure sectors. Joe Kaeser, CEO since the summer of 2013, outlined his "Siemens Vision 2020" in May and set a new path to driving growth and strengthening Siemens' core business portfolio. Since then, Siemens has sold a number of businesses and has reorganized to sharpen its ability to deliver. It plans to build upon its strengths in electrification, automation and, in particular, digitalization. 

The use and application of smart data is proving to be the new competitive currency in most of the categories in which Siemens operates and this presents a host of opportunities upon which it can capitalize. Siemens' advanced gas turbines, for example, are equipped with sensor technology, can monitor and optimize their performance, and can anticipate when servicing is due. Siemens PLM (product lifecycle management) software is described as being "an information strategy" and enables businesses "to make unified, information-driven decisions at every stage in the product lifecycle." (Siemens' next-generation software played a role in the success of NASA's Mars Rover Curiosity a few years ago). 

Siemens is also leveraging data from its healthcare businesses to enable medical professionals to better understand illness, modify treatments and improve outcomes. Overall, the brand is staying ahead of competitors by investing in future technologies and by using analytics to drive such investments. In terms of challenges, Siemens needs to ensure internal clarity is established around its forward-looking vision in order to reassure its employees and secure collective buy-in as the organization moves forward.


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