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Leveraging Data Analytics to Improve Performance

“Utility executives don’t want to hear about generating data anymore. They want to hear about how to turn their data into insights and then action, so they can better serve customers and improve their operations.” This is a point Tendril’s Jess Melanson makes in his paper, 5 Ways for Utilities to Put Data Analytics to Work. And he’s right - what good is data if it isn’t put to practical use?

Utilities can access a variety of data sets, including consumption, bill history, weather, demographic, behavioral, premise data, and more. However, it is optimizing the use of this data that counts. Data analytics can have a profound impact on utility operations, regulatory compliance, customer satisfaction and overall business success. Some of the benefits include:

  • Higher asset utilization rates: Consider the advantages of an asset planning group collaborating with the groups that understand the energy choices that customers are making. Sharing these insights sheds light on how utilities can avoid peaks, find flexible demand opportunities and cut the hefty costs of maintaining unnecessary peaker plant infrastructure.

  • Stronger customer relationships: Using data to communicate with customers allows utilities to treat each customer as an individual, and send the right communication at the right time, via their preferred channel. This level of personalization builds brand loyalty and wins customer trust for the long term.

  • Reduced cost to serve: Utilities can increase operational efficiency with streamlined and intelligent mobile-first communication. Leveraging data on the backend to power personalized and engaging app-based customer communications can improve satisfaction rates. Further, providing real-time chat functionality and delivering relevant push messages at optimal times can reduce call center volume and ensure that utilities are providing exceptional service to their customers.

Leveraging data analytics to improve performance is a no-brainer. So how do utilities apply analytics intelligently? Download our white paper, 5 Ways for Utilities to Put Data Analytics to Work, to learn more.




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