.

Quick take: Many utilities still don't know what they don't know. Smart grid vendors need to do a better job of explaining what's possible with advanced analytics and the benefits they can bring. -- Jesse Berst

A Bridge Energy survey reveals that more than half of all utilities are "challenged with immature business intelligence / analytics capabilities." That's based on surveying over 14,000 utility employees about their views and experiences in analytics, business intelligence and/or big data.

Availability of knowledgeable staff and the integration of related systems were cited as top issues hindering BI/Analytics improvements, but still, 91% of those surveyed indicated their utilities are planning BI/Analytics projects in the next year or two.

As a result, according to a new report by Pike Research, the worldwide market for smart grid data analytics will grow steadily through 2020, with cumulative spending totaling just over $34 billion. Pike anticipates cumulative worldwide spending from 2012 through 2020 totaling just over $34 billion.

"Smart grids cannot be considered smart without the actionable intelligence to correct deficiencies and introduce efficiencies throughout the power delivery system, from transmission, substation and distribution systems, to the customer side of the meter,” says Pike research director Carol Stimmel. “The demand for market analytics will only grow stronger as utilities upgrade their systems, and both seasoned providers and new entrants are vying to deliver on the promise of a smarter grid.”

Pike anticipates the bulk of the spending will occur in the Asia Pacific, driven by China’s aggressive deployment of smart meters and its related infrastructure.

Also worth a look…

SGN eBook: Strategic Asset Management: A Primer for Electric Utilities

Smart grid data analytics in the real world

Smart grid Big Data: Survey confirms utility opportunities, but spots blunders as well

.