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Frost & Sullivan: Big Data Drives Business Model Transformation in Utilities

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Frost & Sullivan: Big Data DrivesFrost & Sullivan: Big Data Drives Business Model Transformation in Utilities PR Newswire LONDON, Nov. 28, 2013 -- Business intelligence and analytics will be top investment priorities for energy companies The emergence of a new set of business needs, driven by changes in the energy landscape, has led utilities to deploy intelligent energy networks. Implementation of sensing and metering devices will enable access to new data and trigger a data explosion that necessitates the use of data management solutions, in turn boosting the prospects of ICT providers in the energy industry. New analysis from Frost & Sullivan (http://www.ipcommunications.frost.com), Data-driven Utilities, finds that big data analytics and forecasting software will become the cornerstone of business in utilities and will bring significant growth opportunities for ICT vendors. "With the emergence of smart grids, utilities will start exploiting new data sources – grid sensors, smart meters, and electric vehicles – to optimize their business and provide better customer services," said Frost & Sullivan Information and Communication Technologies Research Analyst Ewa Tajer. "Starting from reporting, billing and settlement, they will test new technologies and add new sources of data to their data management systems to build analytics capabilities." Energy companies will also be forced to improve customer interaction by leveraging social media and various Web data.
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Frost & Sullivan: Big Data Drives Business Model Transformation in Utilities

PR Newswire

-- Business intelligence and analytics will be top investment priorities for energy companies

The emergence of a new set of business needs, driven by changes in the energy landscape, has led utilities to deploy intelligent energy networks. Implementation of sensing and metering devices will enable access to new data and trigger a data explosion that necessitates the use of data management solutions, in turn boosting the prospects of ICT providers in the energy industry.