Next-Generation Asset Management: Make Improved Decisions through Advanced Approaches to Transmission and Distribution Asset Analytics

The introduction of powerful new analytics capabilities has created a fundamental shift in what can be achieved when it comes to proactively avoiding asset failures, extending asset life and making better asset investment and management decisions. This Accenture point of view explores the T&D investment imperative, the benefits of asset analytics and how utilities can put their data to work to drive smarter decisions and improve the management of T&D assets.

Over the past decade, modern approaches to asset management have helped utilities mitigate infrastructure funding challenges, while also enabling numerous grid health and reliability benefits. Until now, however, it has been difficult for utilities to readily access and take full advantage of the information needed to make sound, data-driven and fact-based decisions.

The ability to aggregate, integrate and analyze asset data helps asset managers advance from their historical focus on pulling together data and focus instead on leveraging asset analytics in support of their engineering, asset policy and strategy, asset performance management, investment planning, risk management, and regulatory reporting and filing processes.

Advanced analytics draw on powerful analysis platforms to present data and complex interrelationships tailored for the business and operational needs of different types of utility employees. From the field, to the asset manager, to the board room, asset analytics provide the unique views of information, analysis capabilities and insights different employees need to make better decisions at their level of accountability.

Accenture has obtained valuable experienced-based insights that can help utilities seeking to take advantage of advanced asset analytics. Some of the most important of these insights include:

• Start now, using what you have
• Integrate, don’t duplicate
• Choose the appropriate technology

Improving T&D infrastructure in developed markets is essential to advancing society toward a low-carbon landscape. To succeed on many fronts, utilities need to better optimize their returns on capital investment, run their operations more efficiently and meet rising customer and regulator expectations.