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New IDC Energy Insights Report Provides Maturity Model Benchmark for Big Data and Analytics in Utilities in North America
|By Business Wire
|March 28, 2014 06:22 PM EDT
Energy Insights today announced a new report, Business
Strategy: IDC Maturing Model Benchmark – Big Data and Analytics in
Utilities in North America (Doc #EI247404), which presents the
results of the first IDC BDA Maturity Model benchmark based on a study
of 760 organizations including 59 utility companies at $500+ million in
revenue. This new study was designed to help utilities in assessing
their BDA maturity against market and industry benchmarks; define short-
and long-term goals and plan for improvements; prioritize BDA
technology, staffing, and other related investment decisions; and
uncover maturity gaps among business units and between business and IT
groups — all in the quest to improve or optimize decision making.
Energy Insights Unveils Maturity Model for Big Data and Analytics in
Utilities in North America
To date, the utility industry has used big data and analytics (and
business intelligence) to understand and manage such things as financial
metrics, demand forecasts, energy markets, optimization of generation,
outages, operational efficiency, and customer service. However, given
the number of other issues competing for the attention of utilities,
many utilities are still in the early stages of understanding the full
potential for analytics, what an analytics strategy entails, and what
big data and analytics can deliver. This study presents benchmark data
on the maturity of BDA capabilities of North American utilities,
identifies the key capabilities that distinguish utilities whose BDA
efforts have met or exceeded their overall expectations from their
competitors whose BDA efforts have fallen short, and offers guidance for
achieving BDA success.
"The utility industry is still at an early stage of understanding the
full potential for analytics, what an analytics strategy entails, and
what big data and analytics can deliver. Based on our research, we found
many utility companies have more gains to make by leveraging technology,
staffing, data, process, and strategic intent to achieve greater results
from big data and analytics," said Robert
Eastman, Research Manager, IDC Energy Insights, and lead analyst for
IT Strategies practice.
Key findings of the new report include:
Utilities are still in the early stages of deploying big data and
analytics, with more than four times as many utilities in the lowest
two stages as in the highest two stages of IDC's BDA Maturity Model
and nearly two-thirds of utilities in the middle stage of maturity.
Achieving BDA maturity is a multi-pronged effort across five core
dimensions: intent, data, technology, process, and people. Success
depends on maturity in each dimension and on an alignment in maturity
across the five dimensions.
People are a critical dimension of maturity for utilities from
multiple perspectives. Utilities that report better results from BDA
initiatives organize their BDA resources differently from utilities
with lower-than-expected outcomes. Utilities are reporting continued
difficulty in finding and hiring the right mix of talents.
In today's data-driven world, access to information and the ability to
analyze and act upon it in real time or near real time, can create a
competitive advantage in the marketplace; enable sustainable management
of communities and natural resources; and promote more appropriate
delivery of social, healthcare, and educational services. In the utility
industry, where there are quite a different mix of pressures than in
many other industries, BDA shows tremendous promise and will continue to
increase its focus for utility companies for the foreseeable future,
with an expanding number of use cases.
"We expect to see the number of utilities piloting or experimenting with
big data and analytics increase over the next 12–18 months," Eastman
added." As such, this is an opportune time for most utilities to assess
their maturity with regard to big data and analytics. This new report
will help utility companies assess their current capabilities and
evaluate gaps in reaching higher levels of BDA maturity."
The new study is a companion to IDC
Maturity Model: Big Data and Analytics — A Guide to Unlocking
Information Assets (Doc #239771), which describes IDC's BDA
Maturity Model framework and identifies the stages, critical measures,
outcomes, and actions required for companies to effectively develop BDA
competency. In addition, this study should be used as a complement to IDC
Maturity Model Benchmark: Big Data and Analytics in North America
(Doc #245197), which presents an overall analysis of the survey results
for seven industry verticals taken together.
For additional information about this report or to arrange a one-on-one
briefing with Robert
Eastman, please contact Sarah Murray at 781-378-2674 or [email protected].
Reports are available to qualified members of the media. For information
on purchasing reports, contact [email protected];
reporters should email [email protected].
About IDC Energy Insights
IDC Energy Insights assists energy businesses and IT leaders, as well as
the suppliers who serve them, in making more effective technology
decisions by providing accurate, timely, and insightful fact-based
research and consulting services. Staffed by senior analysts with
decades of industry experience, our global research analyzes and advises
on business and technology issues facing the utility and oil and gas
industries. International Data Corporation (IDC)
is the premier global provider of market intelligence, advisory
services, and events for the information technology market. IDC is a
subsidiary of IDG,
the world’s leading technology, media, research, and events company. For
more information, please visit www.idc.com/energy,
email [email protected], or call
508-935-4400. Visit the IDC Energy Insights Community at http://idc-community.com/energy.
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