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Adoption of digital capabilities – mobility, analytics, cloud, social media, e-commerce and connected devices – can improve performance across the entire utility value chain. It can bolster operating performance and open opportunities for growth of new services and new business models.
In a June issue of Public Utilities Fortnightly, Accenture highlights the changes already are under way in the utilities industry that will facilitate the move toward a digital value chain and create new opportunities. The acceleration of distributed and variable energy sources is creating a grid with smarter end-points. Employees are pushing for digital innovation to make their jobs easier and more interesting. The explosion of data from meters, customers, assets and other sources creates an environment ripe for exploration with sophisticated analytics, while the deployment of new digital assets, such as smart meters, makes it easier to track results and make decisions based on real-time information.
The business case for utilities to undertake the digital transformation is compelling. In the face of rising costs, new competitors and uncertain growth in demand, utilities need to consider new ways of doing business.
Pursuing digital transformation can be the most effective and cost-efficient way for utilities to address current business challenges and achieve sustainable growth. However, accomplishing such a transformation requires more than the adoption of technologies. Rather, utilities will have to adopt new approaches to dealing with customers and new ways to manage work and optimize the energy value chain. The industry is ripe for this fundamental but much-needed change.
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This article was published in Public Utilities Fortnightly in June 2014. Copyright PUR Inc. (www.fortnightly.com). Used by permission of the publisher.
Greg Bolino, Managing Director, Accenture Utilities, shares insights into how utilities can use digital capabilities to transform for value and growth
Why is this the right time for Utilities to focus on Digital?
What lessons from other industries are important for utilities as they move forward toward digital?
What challenges will utilities face as they look to become digital?
What are the key areas of focus for utilities as they move toward digital?
We have identified eight key digital ‘plays’ that can potentially deliver significant value and create new business model opportunities across the utility value chain:
Greg Bolino is managing director within the Accenture Strategy group for Accenture Utilities.
Jack Azagury is the global managing director for Accenture Smart Grid Services and leads Accenture’s Digitally Enabled Grid research program.
June 5, 2014
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