AURORA, Colo., Feb. 21, 2012 /PRNewswire/ -- Rivers of data continue to transform the utility industry but only those companies that understand and conquer the challenges of analytics, including providing the training needed to collect and analyze information, will be successful in creating real business value from the rapidly changing grid.
Experts at last week's Utility Analytics Institute Summit 2012, the first industry conference to provide an in-depth look at analytics issues, presented proven strategies and tactics to the 200 participants gathered in Orlando, Fla. Those who missed this opportunity will have another chance during The Utility Analytics Institute Fall Forum 2012, Sept. 18-20, in Dallas, Texas.
Continued investment in intelligent applications requires these strategies for success, according to industry leaders at Summit 2012:
Breaking Down Resistance -- Support must start with top executives to build a culture that rewards precision analytics; departments must determine responsibilities and work together to move from basic data management to leveraging multi-departmental data that can drive analytics-based solutions.
Personnel Essentials -- The biggest concern of 45% of utility companies is finding time to train employees on the proper use of analytics tools. Without the right skill sets and access to appropriate information, employees won't be able to make the right decisions.
Information Deployment -- Information needs to be generated with a specific goal in mind, preferably aligned with broader corporate goals, such as quality or cost control, improved customer management, or trend awareness.
"It's more important than ever for utilities to move forward with the right analytics and data systems. The Utility Analytics Institute Summit 2012 successfully addressed the needs of the underserved analytics community with an in-depth look at how processes and technologies are being deployed," said Utility Analytics Institute vice president Mike Smith.
The discussion will continue when The Utility Analytics Institute brings utilities professionals together for the Fall Forum 2012, which will address complex implementation issues facing utility grid, customer and analytics professionals. Participants will network with analytics thought leaders, discover new approaches and innovative technologies while learning first-hand from case studies, and hear about current best practices. For information, visit www.uaiforum.com.
About Utility Analytics Institute
Utility Analytics Institute (www.utilityanalytics.com), a division of Energy Central, provides unparalleled, in-depth information and authoritative insights on the management and application of data analytics within utilities to improve grid and customer operations.
SOURCE Energy Central
