IDC Energy Insights Launches IDC Big Data and Analytics Maturity Model Benchmark for European Utilities
23 May 2014
MILAN, May 23, 2014 — A new IDC Energy Insights report presents the results of the IDC Energy Insights 2014 Big Data and Analytics Maturity Benchmark Survey of 80 utility companies across Europe.
The IDC MaturityScape presents benchmark data on the maturity of European utilities' Big Data and analytics (BDA) capabilities, identifies key capabilities that distinguish utilities whose BDA efforts have met or exceeded their overall expectations from companies whose BDA efforts have fallen short, and offers guidance for achieving BDA success.
The IDC MaturityScape Benchmark has been designed to assess utilities' BDA maturity against market and industry benchmarks; define short- and long-term goals and plan for improvements; prioritize BDA technology, staffing, and other related investment decisions; and uncover maturity gaps among business units and between business and IT groups — all in the quest to improve or optimize decision making.
Key findings of the new report include:
- BDA is on the rise as a focus for many utility executives. However, given the number of other issues competing for their attention, many utilities are still in the early stages of understanding the full potential of analytics. The benchmark reveals utilities are still in the early stages of deploying BDA, with more than four times as many utilities in the lowest two stages as in the highest two stages of IDC's BDA Maturity Model.
- Achieving BDA maturity is a multipronged effort across five core dimensions: intent, data, technology, process, and people. Success depends on maturity in each dimension and on an alignment in maturity across the five dimensions.
- The top 10 traits that most distinguish high-achieving BDA utilities span the five critical dimensions to include management of Big Data/analytics strategy at the enterprise level; enterprise-level funding and justification; actionable data; integrating multiple data types; scalability, reliability, and other capabilities; advanced analytical tools for predictive analysis; apps for consuming data in support of decision making on mobile devices; hire, develop, and retain technical analytics people; build a culture of collaboration; and discipline around strategy and planning as well as governance processes.
"The European utility industry recognizes that among the four pillars of IDC's 3rd Platform, Big Data and analytics will most significantly contribute to its companies' business innovation. European utilities are still in the early stages of Big Data and analytics maturity, but we are seeing more and more use cases proving tangible benefits," said Roberta Bigliani, associate VP and head of EMEA, IDC Energy Insights. "It is critical that utilities mature homogenously across the five dimensions of Big Data and analytics — intent, data, technology, people, and process — or they risk being only as strong as their weakest dimension."
The new report — IDC MaturityScape Benchmark: Big Data and Analytics in European Utilities (IDC #EIOS03W, May 2014) — is a companion to IDC Maturity Model: Big Data and Analytics — A Guide to Unlocking Information Assets (IDC #239771, March 2013), which describes IDC's BDA Maturity Model framework and identifies the stages, critical measures, outcomes, and actions required for companies to effectively develop BDA competency.
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About IDC Energy Insights
IDC Energy Insights assists energy businesses and IT leaders, as well as the suppliers that serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the utility and oil and gas industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world's leading technology, media, research, and events company. For more information, please visit www.idc.com/energy, email firstname.lastname@example.org, or call 508-935-4400. Visit the IDC Energy Insights Community at http://idc-community.com/energy.
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