For the Utilities industry, operational efficiency is the name of the game in Digital Transformation. Given the constant pressure from regulators, shareholders and customers to reduce operational costs, a large majority of utility companies view digital technology as a lever to – first and foremost – improve internal efficiency. Many utility companies also view digital as a means to improve customer relationships, as evidenced by applications of social media and mobile to the customer experience.
Despite these opportunities, the results of our study reveal that most utilities are quite “Conservative” in their digital maturity. Most are just beginning their digital journeys. Overall, utilities show strong digital management practices, but appear to use digital technologies less than other industries in the customer experience or their own operations. Increasing expectations of digital-savvy customers and the coming “data tsunami” generated by the deployment of “smart” technologies (e.g. smart city, smart grid, smart home, smart meters) will create new possibilities for Digital Transformation in the industry. Most utilities will need to increase the scale and breadth of their digital initiatives to take advantage of them.
Discover the 5 key learnings of the study in this report. To read all about the cross-industry study, please refer to the study “The Digital Advantage”.