While transitioning to the adaptable utilities of the future, organizations are addressing unprecedented challenges throughout their digital transformation journeys.
TORONTO, April 12, 2023 /PRNewswire/ – The importance of data-driven decision making continues to be a priority in the strategic planning process across the utility industry, particularly amid ongoing economic uncertainty. However, utilities are struggling to figure out how to effectively leverage the data collected and turn it into actionable insights. In response to this challenge, Info-Tech Research Group, the trusted research and advisory partner of IT leaders around the world, has released its new research report Data Analytics Use Cases for Utilities.
The latest industry resource from the firm provides utility leaders with a repository of pre-curated utility data analytics use cases as well as a filtering and prioritization framework. These will aid in speeding up the process of identifying the right business problems and finding solutions that deliver the highest value for the organization.
“Data analytics has become all that much more important to enabling utilities to transform digitally. The amount of data collected by utilities will only continue to grow, and turning that data into action is a key challenge for utility leaders,” says Jing Wu, principal research director of Utilities Research at Info-Tech Research Group. “Data strategy development can be time-consuming, and the heavy lifting is mostly building a list of prioritized business cases that truly deliver value. This new research report can help fast-track the process.”
Info-Tech’s report outlines seven areas of focus. Referred to as 7V, each category of focus poses a question that must be answered by utility leaders in order to overcome data challenges and digitally transform their organizations. The breakdown of 7V is as follows:
- Velocity – Existing systems, such as billing applications, are not effective in handling rapidly…