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For example, some have already sharpened their accuracy in predicting equipment failures and power-outage durations—results that can reduce costs and increase customer satisfaction. Utilities are sitting on a wealth of opportunity from data analytics, with more information than ever before flowing from smart meters and other sensors, along with traditional sources of data about their operations. ATS’ data analytics platform enriches customer usage data with other resources such as weather, size of home, age of home, etc. to more accurately forecast a customer’s usage and expected bill.
Performance Improvement
- Visualize interactions, case trends, and exceptions to pinpoint service issues.
- Learn more in our blog entries on why utilities need to embrace cloud computing and the alphabet soup of utility software systems.
- The primary goal is to forecast energy consumption patterns, which can help utilities plan for capacity needs and optimize energy prices.
- Where are anomalies costing us much money?
- These hours- and days-ahead forecasts can help utilities make informed operational decisions and better manage the challenges of changing load patterns and growing demand.
Big data utility management isn’t just another energy tool — and it’s important to make that clear. The ability to continuously track, benchmark, and improve utility performance depends on your ability to manage large-scale data inputs. Utilities are one of the most data-rich and under optimized areas of enterprise operations. But only if it’s structured in a way that’s easy to work with.
By providing recommendations, prescriptive analytics helps businesses make more informed decisions quickly and efficiently while reducing risk exposure simultaneously. It can help anticipate customer behavior, market changes, or other potential scenarios that could affect business operations. Data Analytics helps energy companies better understand customer needs and preferences to provide better services. Businesses operating in this industry sector, including IT outsourcing vendors like N-iX, benefit from increased customer satisfaction and optimized costs.
