25 Oct Why our customers tell us that metering companies have a big opportunity
Metering companies today are faced with some of the biggest challenges in recent years. They’re also faced with some of the greatest opportunities ever seen, due to fundamental market changes and a new era of technology.
On the one hand, metering is becoming a commoditised service. Most companies these days can read a meter and send that data out. And whilst there are varying degrees of service levels and responsiveness to customers, the sense we get from our customers is that the gap between the average and the good will slowly close and differentiation will become more difficult.
But in a changing energy market, large corporate customers are becoming more complex to manage. They not only consume power, they produce it. We’re also rolling out new smart meters to larger parts of the market (P272 Changes). All changes which add to the growing need to help manage and understand energy data.
With the barriers to entry dropping in technology services like IoT Hubs, Big Data, Machine Learning and AI – metering companies could catapult themselves forward and provide a truly differentiated offering to end clients. One they would love. Here is a round-up of the technologies we believe could have a big impact in 2016/2017, for innovative metering companies that are looking to make a positive change:
- Cloud/Big Data Processing – customer’s won’t want to be waiting hours/days for processes to crunch through data, so big data computing/cloud will provide the necessary scale to provide lightning results to customers at scale. And as you can rent capacity by the hour, you won’t need to spend lots of money on big servers which are sat idle when you don’t need them.
- IoT Hubs (Internet of Things) – technologies are now readily available which make it easier to on-board data from a variety of different sources. So as customers look to combine various energy data sets from their on-site technologies, this task is set to become a lot easier to manage.
- Artificial Intelligence – with all this data on energy, delivering intelligent, actionable information to end customers will become critical. 2016 is the year many large tech giants (Amazon, Google, Microsoft, Tesla, Apple) launched new AI initiatives. Clever technologies which when combined can take us from a world of dashboards, and reports, to a world of digital assistants that can be monitoring our energy estates for us 24/7.
If you’re interested in how these technologies could help your business, talk to us today about how the Utilidex | Hub could start to provide a differentiated offering to your end clients.