When every person in your company is focused on one industry, you don’t just have a front row seat to changes in the landscape— you’re leading the way forward. Over the last decade, the utilities sector has been undergoing a period of radical change. “The industry is now being driven by accelerated technological forces and evolving customer expectations,” says Jimmy Leong, Chief Consulting Officer at Utegration. ”Competition from non-traditional players and expectations of faster regulatory responses are laying the foundation for new business models.” It’s an important time for utilities to have a partner they trust to navigate the changes and create a future where they can thrive.

Analytics is the key to unlock value

While the sector is rich in data—both customer data and the proliferation of smart meter data—utilities have been lagging other industries in terms of harnessing that data to deliver outcomes that are critical to these new business models. However, new technology to handle Big Data is just part of the equation. Says Steve Sheaffer, Vice President of Business Development at Utegration, “Utegration understands this industry, so we understand what drives the most value for utilities.

Utilities generate a lot of data. We help them use it to gain measurable improvements in everything from customer operations and revenue protection, to asset management.”

With over 10 years of experience in the sector, Utegration understands what drives the most value for utilities

“If a consulting organization doesn’t fully understand the impact of rate bases and the regulatory environment on how the industry runs its business, for example, how can it deliver and execute analytics strategies that ensure utilities achieve their goals?” asks Sheaffer.

In Utegration’s experience, analytics drive the most value for their clients in the following areas: the meter-to-cash process, regulatory reporting, and managing asset investments.

“The meter-to-cash process is complex and unique to the industry,” says Leong. “This is the revenue engine of a utility, so holistic financial control is a must. We’re providing our clients with a solution controls analytics framework, and advanced analytics capabilities so they can detect fraud, reduce bad debt and even predict customer behavior to give them greater control and confidence.”

Another important aspect of utility operations relates to rate cases. Utegration accesses data in the system to run scenarios to help optimize rates. They analyze load data and segment customers for usage and demand to design what at effective model looks like, then optimize operations to target areas for growth—for example, electric vehicles.

As an asset-intensive industry, maintaining and optimizing utility assets can have a huge payoff. Utegration helps utilities use data to analyze asset health and unlock tangible improvements in performance and cost. “The market opportunities and risks are unique to utilities,” says Leong.