Brand value: $86.2 billion
Percentage change from last year: -8%
Last year's rank: 4
What happened: Millward Brown says IBM is "investing in its future," particularly with its cognitive computing system Watson, which is working across areas such as advertising, healthcare, education, and retail.
The company has also quietly built the world's largest digital agency — IBM iX.
Millward Brown doesn't give a reason why IBM's brand value dropped from the previous year, however, it is probably IBM's move away from consumer products that has seen the company drop down the rankings. Millward Brown says "consumer perception of a brand is a key input in determining brand value".