Author: Vivek Jade
It’s a data-filled world: when we make a purchase, switch on a light or simply turn on a tap, we leave a data trail in our wake. There are major challenges to find and interpret the information we seek, and to channel information clearly. Further, with each passing day, the volume and accessibility of data increases exponentially. But to what end?
On the technology front, the world faces two major changes:
- The data is getting bigger – anticipated to be 44 times larger in the next decade – challenging existing data management systems and tools, yet offering new possibilities including better predictive risk management capability.
- The emergence of the ‘app’ world and new visualization capabilities have increased availability and use of data for the general population. This has the capacity to fundamentally shift many of the accepted business paradigms in which we operate.
Smart Meters
Initiatives such as smart meters will allow business to change pricing and servicing models that can deliver system efficiencies, recognize previously overlooked revenue streams and offer customers the opportunity to manage their utility resources efficiently. For utilities, what is being used, when and by whom, is vital. Real-time consolidated, accurate billing also becomes important for both providers and customers. In addition, the ability to better understand customers means that tailored services and communications can be provided. Utilities and business need systems that not only allow prompt access to raw data, but also models that deliver efficiencies and improvements.
Customer Expectations
Customers now demand more information on usage in order to tailor choices around tariff selections and measure themselves against users with similar profiles in their neighborhoods This intensified interest in usage has the ability to change customer behavior and usage patterns.
Although advances in technology, proliferated sources of data, and our ability to store and analyse information has made us more interconnected than ever before in human history, there is immense complexity that surrounds us daily. Hence turning complexity on its head to get meaningful, actionable information carries equal importance. This can lead to organisations making quicker and better decisions. Creative visualizations plays a vital role in delivering exceptional customer experience and communicating decisions intuitively.
Vivek Jade has over a decade of experience and is Head of Visual Intelligence for MWH Global. His passion is exploring opportunities to simplify complexity and bring value to clients. Vivek’s experience extends to conceptualizing and developing innovative technology-based solutions for clients and he has held similar roles at Infosys Technologies and Bentley Systems.
