Accessible and actionable: Utilities are leveraging real-time analytics to improve operations and customer experience
By Rachael Harper, Research Manager –
Recently at Utility Analytics Week, I got to enjoy some warm Arizona weather even as I learned how utilities are leveraging analytics to gain a deeper understanding of customers and improve business operational efficiencies.
A major takeaway from the conference, for me, is that utilities are truly realizing the benefits of making data accessible company-wide.
Take Con Edison’s Enterprise Data Analytics Platform for example. In 2017, Con Edison selected C3.ai to provide the enterprise analytics foundation for the company’s digital transformation initiative.
The initiative was undertaken to help drive corporate initiatives aimed at reducing O&M and streamlining business processes and meet goals outlined by New York States Reforming the Energy Vision to improve electric system efficiency and reliability, encourage renewable energy resources, empower customer choice and provide customers with market data and tools to manage their energy usage.
The project had many unplanned benefits such as unexpected new users and increased demand for new analytics.
Another takeaway from the conference is that utilities are using data to drive business decisions, inform strategy and gain a better understanding of customers and their behaviors. Hydro One used analytics to develop micro-segmentation of its customers and created robust profiles of customers that resulted in better customer engagement.
If you are interested in learning more about ongoing data analytics initiatives, challenges and lessons learned from leading utilities, reach out to Tim Herrick about joining the Customer Experience Leadership Council.