Information Gathered Shows Utilities Allocating Significant Spend for Analytics Projects
Newton, MA – April 4, 2017 – BRIDGE Energy Group today announced the results from their 2017 BRIDGE Index™ Utility Industry Survey on Grid Analytics. This year’s survey, reaching over 20,000 utility employees throughout North America, reveals business individuals’ desire to gain instant access to data — with little to no IT intervention – as the force driving Big Data projects. However, 50% of those surveyed are still using spreadsheets, or vendor tools, for reporting backward-looking “what happened,” scenarios.
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Once again, BRIDGE Energy Group shows they have their finger on the pulse of utility companies who are embracing analytics to improve operations and increase customer satisfaction. The insightful survey shows that 47% of participating organizations have had Big Data solutions in place for over one year, with operations accounting for 48% of the use cases behind these solutions. However, also noteworthy is the fact that 54% of analytics projects are done — without — business justification.
“In order to achieve success there needs to be business sponsor buy-in and clear, measurable goals defined for all analytics projects,” said Glen Sartain, VP of Grid Analytics at BRIDGE. “There must also be plans to operationalize the functionality gained from this new insight.”
BRIDGE Energy Group is proud to bring this insightful information, year-after-year, to document how the utility industry is progressing on several fronts.
The 2017 BRIDGE Index™ Utility Industry Survey on Grid Analytics also reveals:
- Asset health and outage management are the top use for predictive analytics needs
- Operations and customer use cases are most common for general big data needs
- $6.3M is the average corporate analytics spend forecasted for 2017
Mr. Sartain will be on hand at the Utility Analytics Summit in Chicago, IL, April 10-12 to share additional survey insights. He will also join Keith Hock, Director of Transmission Technical Services at Ameren, on Tuesday, April 11th from 10:45-11:30 for an on-stage discussion that will underscore how utilities should approach their analytics strategy. The presentation, “Creating a Business-led Analytics Initiative”, will include details of how a strategy engagement will:
- Create Operator/Business defined use cases
- Develop user buy-in for solving challenges
- Establish value-based ROI for use cases
- Identify organizational readiness for change
To enable breakthrough operational performance improvement at your utility, contact BRIDGE at 1.888.351.8999 or via www.bridgeenergygroup.com/contact-us/
About BRIDGE Energy Group
BRIDGE Energy Group is the leading consulting and systems integration company focused on improving utility operational performance. BRIDGE combines business, OT and IT domain expertise to deliver and optimize innovative grid operations solutions. BRIDGE’s capabilities and expert services enable engagement at any stage in the lifecycle, from strategy & regulatory to implementation & optimization. Founded in 2004, BRIDGE is headquartered in Newton, MA. For more information on BRIDGE, please contact 888-351-8999 or visit www.BridgeEnergyGroup.com.