Final answer:
John Deere's digital transformation has changed its business model through the implementation of precision agriculture technology and data-driven decision-making. This has resulted in increased productivity, efficiency, and the creation of new revenue streams.
Step-by-step explanation:
John Deere's digital transformation has significantly changed its business model. One major change is the implementation of precision agriculture technology, which integrates GPS and other data-driven tools. This technology allows farmers to monitor and optimize their operations, resulting in increased productivity and efficiency. Additionally, John Deere has embraced the concept of data-driven decision-making through the use of telematics, which provides real-time data on machine performance and maintenance needs.
These digital innovations have transformed John Deere from a traditional manufacturing company into a provider of digital solutions and services. By leveraging data and technology, the company has created new revenue streams and business models, such as offering subscription-based services and predictive maintenance. This shift has not only enhanced customer value but also allowed John Deere to build lasting relationships with farmers by helping them achieve better outcomes with their agricultural practices.