energizing electricity: from commodity to experience through digital

Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.

Energizing electricity: From commodity to experience through digital

The electricity sector is ripe to realize value from rapid digital transformation.

How much?An estimated $1.3 trillion of value

to be captured globally, from 2016 to 2025. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.

Established players and startups alike are experimenting on the fringe of the industry — turning this commodity into an experience built around the

customer.

Four themes are driving the trend…



FOUR THEMES DRIVING DIGITAL TRANSFORMATION IN THE ELECTRICITY SECTOR

This includes technologies that enable real-time, remote control or predictive maintenance for extending the life cycle or operating efficiency of assets. While good practices are evident today, there’s a great opportunity to scale them up.

1

Asset lifecycle management



An optimized grid moves beyond a smart grid deployment (new technology in an old management paradigm) by combining smart grid infrastructure with analytics and intelligent devices, linking the grid to the customer.

2

Grid optimization and aggregation



Electricity companies will move from being “energy-centric” to “customer-centric”, using increasing volumes of customer data to better understand their behavior — and play a bigger role in their lives

3

Integrated customer services



Customers are developing “liquid expectations”, believing that a high-quality service in one industry should be connected and translated to the next. Electricity companies can look to provide a hyper-personalized, connected service that adapts to the changing consumer, business and citizen by linking to cross-industry partners.

4Beyond the electron


So how canelectricity leaders

energizethe industry

?Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.


Accelerate the pace of digital innovation. Leaders should experiment more and learn to “self-disrupt”, with

organizations instilling a culture of making mistakes to learn quickly.


Design a delightful customer experience.

Every digital initiative should have the end-customer experience at its core.


Partner and invest in the electricity ecosystem.

Business as usual in the new electricity ecosystem will look very different. Partnering with peers and competitors to offer valuable customer services, improving and optimizing the grid, developing

digital capabilities fast and playing beyond the electron will become core business activities.


Invest in improved analytics capabilities to benefit digital products, production and sales.

Gathering, enriching, interpreting and putting existing and new data sources to use is critical to remaining consumer-relevant, achieving

desired business outcomes and understanding how to lock in customer loyalty.


Identify new partners outside the ecosystem to drive breakthrough innovation.

New business models will arise from sharing data and insights, and drive service and product innovation with new and emerging partners

from other industries. Cross-industry collaboration will become an integral part of the digital consumer experience.

LEARN MOREabout how the electricity sector is taking advantage of

innovation with our full report:

Energizing electricity:From commodity to experience through digital

Discover how holding downemissions can boost profits


https://www.accenture.com/us-en/insight-low-carbon-high-stakes-in-utilities.aspx?c=strat_stratsmcss_10000013&n=smc_0316



http://reports.weforum.org/digital-transformation-of-industries/wp-content/blogs.dir/94/mp/files/pages/files/wef-dti-electricitywhitepaper-final-january-2016.pdf

energizing electricity: from commodity to experience through digital

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