According to market forecasts, energy and utility industry players were planning to invest US$7 billion on big data and analytics in 2014 which represents one of the highest cross-industry spending at 15% (ABI Research, 2014). Given an annual average CAGR of 25%, the same figure is likely to increase by three times to US$21 billion by 2019. Key business drivers behind the adoption of energy data analytics include cost reduction through demand response and generation programs, personalized customer care, the growing complexity of customer data and an increasing need to comply with regulatory norms.
Major utility players are set to roll out millions of smart meters with an aim to generate actionable insights even though as per the industry's own admission, any serious effort toward monetization is being undermined by a lack of core IT capabilities, especially in big data technology.
This white paper will showcase how energy and utility providers can unlock potential service opportunities using a reliable predictive analytics solution across all stages of the business cycle.
If you're a utility provider, an ISV vendor in the smart grid space or someone curious to learn about the integral role played by data analytics in the energy sector, this white paper is for you.