What does 2014 have in store for the utility industry?

Flexibility
IDC recently released several predictions for the utility industry for 2014, from increased investments into cybersecurity to a focus on microgrids. Leading these predictions, however, was a growing need for flexibility and innovation. Firms are accomplishing this by investing in smart grid technologies and improved data management tools to support these deployments. Smart grid solutions offer increased flexibility, as well as visibility, over power grid usage, distribution and control, helping cut costs and improve the flow of energy to consumers.

Customer service
Increased expectations for customer service will also drive data demands for utility providers, making smart grid technologies a necessity. IDC predicts that multi-channel customer support will be essential, and improved platforms and service architectures will be a top priority investment. By incorporating smart grid deployment with these efforts, firms will be able to improve the flow of information from the customer to customer service and back, strengthening the loop and optimizing the customer experience overall.

Spending
Ultimately, these new priorities and investments will drive IT spending for utilities up significant across the globe, to nearly $60 million in the next year. With so many IT supported technological demands coming in, firms will need to adapt and be prepared to service not just billing needs, but technical ones as well as consumers want to know more about where their power comes from and the green efforts providers are taking.

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