01 May How is the New Age of Digital Transformation Changing the Utilities Sector?
It is easy to take for granted the technology we have at our disposal. We flick a switch and the lights go on, we turn on the tap and clean water comes out. We don’t have to worry about the provision of natural gas for cooking.
But today, the utilities sector is under pressure to simultaneously reduce costs and improve operational performance.
Utilities are a bit late in digital innovations than retail, banking or insurance. With energy getting on the digital bandwagon with online customer engagement, smart sensors and better use of analytics, utilities are now beginning to adopt it.
Digital technology gives utility companies the opportunity to collect much richer, customer level data, analyze it for service improvements, and add new services to change the way customers buy their products.
Smart technology will be used to monitor home energy usage, to trigger alerts when previously established maximum limits are being reached, and to offer ‘time of use’ tariffs that reward consumers for shifting demand from peak times.
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