To date, the utilities industry has used big data, analytics and business intelligence to understand and manage such things as financial metrics, demand forecasts, energy markets, optimization of generation, outages, operational efficiency and customer service. However, many utilities are still in the early stages of understanding the full potential for analytics, what an analytics strategy entails and what big data and analytics can deliver, according to a new study by IDC Energy Insights.

The report, “Business Strategy: IDC Maturing Model Benchmark — Big Data and Analytics in Utilities in North America,” includes the results of the first IDC BDA Maturity Model benchmark based on a study of 760 organizations including 59 utility companies with $500-plus million in revenue.

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