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Page 2: The survey says... what? >> By Jesse Berst
To get beyond those obvious points, I spent time with Brad Williams, Vice President of Product Strategy for Oracle Utilities. Williams cites three areas where analytics can make a big difference:
The overlooked opportunity
Williams says the third area is most often overlooked. He defines it as using data to deliver value directly to customers. One example: providing customized recommendations on how to reduce their bills.
Williams describes several other ways utilities are using analytics to "gain trust with customers and better meet their mandates." For instance, some utilities are crunching the data to help them keep their infrastructure up to speed – for instance, staying a step ahead of electric vehicle and rooftop solar. Others are using it to design new and more effective incentive rate structures.
Why you need a data scientist
Williams is adamant that analytics is so important it will determine whether or not a utility succeeds in the next era. He also believes it will "create a new breed of utility worker I call a data scientist." This new form of analyst will understand both Big Data and the peculiarities of utilities.
Indeed, the utilities surveyed reported "lack of talent" as the biggest thing holding them back. So how do you find such people? If you hire from outside the industry, Williams recommends you assign the new person a "tour of duty" in operations. If you want to grow them internally, companies such as Oracle provide analytics training as well as tools preconfigured for common utility needs.
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