Navigant illustrates how utilities can prepare for the Energy Cloud transformation in an article for Utility Week
Neil Strother, a principal research analyst with Navigant Research, wrote an article recommending utilities use big data and analytics to adapt to the digital transformation of the industry.
Utilities are struggling to adapt to the large amount of data flowing from Internet of Things (IoT) devices such as smart meters, submeters, and distributed energy resources deployments.
“The key question: what meaningful things can be done with big data? Answer: analytics can unlock valuable business insights from data,” said Strother. “Unfortunately, most utilities lack the necessary analytics tools and skills to make the data work for them. But they are far from alone in this regard — many other industries face a similar challenge.”
To adapt to Navigant Research’s’ envisioned Energy Cloud future, Strother recommended utilities implement strategies embracing analytics to digitally transform their businesses, such as one supported and directed by C-suite executives.
“It would be risky not to embrace analytics tools now and advance with them as they mature,” said Strother.