By Editors of Power Engineering
Going digital to provide better ways to meet customer demands, save money on business processes and create new services can cost millions of dollars and take multiple years. Navigant indicated the utilities that have started a digital transformation have faced numerous difficulties, as well as an expense of millions of dollars.
“Digitization is one of the hottest topics in the utilities industry, however, the conversation often focuses on the end result: a digital nirvana of a highly efficient workforce and fully engaged customers,” said Stuart Ravens, principal research analyst with Navigant Research. “What is missing are the practical steps a utility must take to achieve a digital transformation, which is often a long and arduous journey.”
Digitalization involves navigating very technical concepts including data governance, data quality, model management and master data management.
Though Navigant indicated most utilities recognize the benefits of digitalization, most have responded with small-scale projects to address specific requirements.