Welcome!

News Feed Item

New IDC Energy Insights Report Provides Maturity Model Benchmark for Big Data and Analytics in Utilities in North America

IDC 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.

ClicktoTweet: IDC 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 the Utilities 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.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?