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
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, will describe how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launchi...
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In their Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, and Mark Lav...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
SYS-CON Events announced today that mruby Forum will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. mruby is the lightweight implementation of the Ruby language. We introduce mruby and the mruby IoT framework that enhances development productivity. For more information, visit http://forum.mruby.org/.
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...