Latest Global Research: Key Trends of Energy Providers
ESG, a global energy software company that provides the complete software platform for energy providers, has partnered with Utility Dive’s StudioID to better understand how data and technology affect energy providers’ operations.
Energy providers worldwide are operating today in a time of opportunity and challenge. While they have an ever-expanding array of tools at their disposal to thrive in a constantly evolving environment, the diversity of methods also presents challenges, both for providers and their customers.
Earlier this year, ESG and Utility Dive’s studioID surveyed 150 energy providers across the U.S. and U.K., a group primarily made up of retail energy providers, energy suppliers, and deregulated utilities. These respondents were executives and decision-makers with portfolios including operations, sales, IT, and sustainability. The survey revealed that energy providers are actively seeking advanced technologies to drive better analytics and, thus, more informed decision-making — both for their internal operations and for their customers’ benefit.
“For faster decision-making, you must have information presented clearly so you’re not wasting time trying to interpret it,” says Karen Padir, Chief Product Officer with ESG Global. “That way, customers can focus on making those key business decisions to drive greater profitability.”
The research report from the survey data uncovers how Energy Providers can understand their customers’ challenges and evaluate their own capabilities and needs. You will learn how providers can actualize how insights, data, and technology like AI and machine learning bridge the gaps between what they can do today and what they must be capable of in the future to gain market share and improve profitability.
Energy providers described in detail the many marketplace challenges they are contending with, including today’s ultra-competitive business climate, rising costs, rigorous regulations, and a push toward carbon neutrality. Most of the respondents are actively seeking advanced technologies to improve their analytics.
Advanced technology is key to solving these challenges, and energy leaders need to unlock more data-driven insights to improve their decision-making. From the decision-maker and stakeholders’ perspective, they need powerful analytics to support this. They need both the software powered by data to break through the complexity and technology that enables the insights they need to help build a strategy.
Technology isn’t an end in itself,” says Pat Smith, Managing Director with ESG Global. “What it empowers you to do for your customers and your business is what matters.”
Click here to download the full report.
By: Dominic Benabda, Global Marketing Manager, ESG
