Utilities industry companies are increasingly required to be flexible in their actions and operations. Complex regulations, market liberalization and rising client expectations are accelerating the need for process optimization. In our previous blog ‘Business Intelligence with GeoPal’ we note that the utilities industry holds significant bodies of data, constantly flowing from smart meters, sensors and other traditional or ‘tribal’ sources of data regarding operations and strategy. Conservative estimates supported by rigorous use-case analysis suggests that BI and analytics deployment can boost profitability from 5 % to 10 % (McKinsey). We take a look at seven other key benefits of deploying business intelligence and analytics through implementing GeoPal;
The 7 Benefits of Business Analytics in the Utilities Industry
- Eliminate Paper: No more paper, spreadsheets or bespoke inflexible reports as data is collected online and securely stored in the cloud.
- Gain Actionable Insight: Gain actionable insights in key operational areas through metrics and KPI’s. Decisions can now be based on real-time information transforming tribal knowledge into continual process.
- Dashboards: Visualize data through BI dashboards. Customisable dashboards make it easy to analyze, understand and present collected data. Powerful graphical interfaces make analytics meaningful and simpler to assess.
- Risk Reduction: Reduce operational risk with real time alerts for any high deviations.
- Reduce Data Silos: Data is shared with other team members. Universal organizational access to a BI Application helps reduce data silos.
- Data Integration: Field Data can be extracted and integrated with multiple (non-field) data sources simultaneously (e.g. CRMs and ERPs).
- Access Historical Records: Full online access to historical records
GeoPal & Business Intelligence
GeoPal is a field operations management (FOM) solution that can work seamlessly with leading BI applications, providing a 360 view of all Field Operations metrics. Using GeoPal’s extensive API’s, GeoPal can combine field data with other company data (e.g. CRMs and ERPs). This combination delivers a company-wide view of all data, aiding transparency and strategic decision making.