December 17, 2012 – Utility industry spending on monitoring and performance management analytics is predicted to surpass $20 billion by the end of this decade, with expectations of five-fold returns from newfound access to huge data loads, according to a new energy industry research group report.
In its report, GTM Research stated that the maturity of analytic adoption by utility companies – particularly with predictive analytics, performance management and customer personalization – will prompt a “complete reinvention” of their modes of business. With a steady increase over this decade, the report forecasts increases in analytics spending by the worldwide utility industry to the tune of $3.8 billion in 2020 alone. That big spending comes with the expectation of a big payoff, as GTM indicates utility analytics ROI will reach $121.8 billion compounded between this year and 2020.
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