Metering the Degree of Analytics Adoption in Utilities

Global utilities are undergoing a sea-shift in business models and industry dynamics. Regulatory bodies constantly threaten changes to traditional energy supply, increasing the need for compliance and constant vigilance. Financially, utilities are still struggling to regain pre-recessionary growth rates, battling the decrease of demand, lower prices and an increase in the cost of power generation. Meanwhile, renewable energy and local, alternative power consumption such as solar installations continue to soar.

The biggest shift of all, and one that is just starting to take off, is consumerization in utilities; smart grids, networks, sensors and mobile technologies have enabled customers to increasingly take interest in not only the source and type of their power supply, but also the providers they subscribe to, and take ownership of their consumption patterns and self-service. In short, utilities are at the tip of the iceberg and anticipating a broad change in consumption patterns.

This changing market will require different competitive strengths than in the past, essentially creating a “burning platform” for change within utilities. HfS believes that the time is ripe for utilities to embrace analytics – having fast and relevant access to meaningful insights can have a significant impact on performance and build competitive advantage.