For a utility to stay relevant in the modern age of digital transformation, it needs to adopt up-to-date solutions that are smart, customizable, innovative and efficient.

Automation of manual activities and the interconnectivity of devices has led to the complexity of data. It has tremendously increased the cost, complexity and time taken to make fact-based decisions. Utilities need to engage with 3rd-party software suppliers, prosumers and other market participants to build and update customized solutions. These solutions typically involve lengthy projects and custom coding, making it costly and time-consuming. However, in today’s complex data environment, a more agile way of working is now required.

Need for modern solutions

Data provisioning is complex, often containing different data sources which can be time-consuming and hard to manage. Monetizing data and fact-based decision making has become crucial in maintaining a competitive edge and adapting to new business models. Having a centralized data management platform can help utilities to configure, monitor and manage all data replications seamlessly. Utilities that are able to use the data to analyze activities, trends and create new insights are leading the industry. Utilities not only depend on data to reshape operations, sales or customer engagement but also rely on real-time processing to win more customers, increase revenue and streamline operations with more speed and accuracy.

How utilities benefit from modern data integration solutions

Fast and risk-free: Traditional data integration solutions are slow, require manual coding and can’t withstand large data volumes and velocities. Modern integration solutions, on the other hand, offer a single subscription model with out-of-the box configurable integration applications. Combined with modern automation tools, these modern integration solutions significantly reduce the time and risk of projects.

Centralized Integration with low costs: Traditional integration solutions involve high upfront costs, high inherent risk and do not integrate data from different data sources in an organized central hub, making the process complex and hard to monitor. It means utilities have to face high costs and substantial delays in making fact-based decisions and fixing errors. However, modern integration solutions offer customizable integrations and low-code configuration features. This makes it easier for utilities to connect their data-driven applications and services to systems and processes without requiring extensive technical expertise.

Drives Innovation: Traditional integration solutions are static and lack innovation capabilities. Implementation of new, innovative software solutions is complex, expensive, and time-consuming. Having a modern integration platform drives innovation by connecting new software solutions without needing any coding experience. Adding new applications into the central hub, or removing them, also becomes simple, making utilities more flexible and able to adapt to change.

Real-Time Analytics: Gone are the days when the process of collecting, integrating, analyzing and gathering insights from data happens after the fact. Everything from sharing of information to analytics happens in real-time. So modern integration solutions are optimized to efficiently replicate different data types and read changes from the event logs. They enable utilities to analyze real-time data and make fast and more accurate decisions.

Creates Artificial Intelligence and Analytics-Ready Data: To overcome modern challenges, utilities should spend more time on data analytics and less on data preparation. So, modern integration solutions not only deliver analytics insights as needed but also make it easy to handle, merge, reconcile and continuously access updated data.

Cloud-Native Technology: Modern integration solutions can run seamlessly on both public as well as private cloud providing security, flexibility, mobility and sustainability.

Adapts quickly: As the world we live in evolves, how we approach business must evolve with it. One of the key benefits of modern integration solutions is being able to adapt to these changes quickly and evolve with time and technology. Having the ability to modify, extend and transform existing business models into the future is, perhaps, the most valuable aspect of having a modern enterprise architecture.

Future Ahead

The complexity of data is only increasing. Having access to a real-time data stream on-demand by authorized users and stakeholders will become a necessity. There will still be a place for reports and historical views, but real time monitoring will be new and important. Adaptability, reuse and migration of data from one system to other systems, applications or services should be seamless. Utilities that are able to adapt to new technologies and achieve digital transformation that meets the ever-changing business and customer demands will lead the industry.

Utilihive as the next generation Integration Solution

Utilihive is a cloud-native big data integration platform, purpose-built for the digital data-driven utility, offered as a managed service. Utilihive is designed for utilities that want to deliver data-driven solutions and innovate renewable energy services for their customers faster than traditional system integration models. Utilities aiming to reduce risk and cost whilst accelerating innovation with seamless access to data across the value chain can rely on Utilihive.

About the guest author:
Keshav Mor is an entrepreneur and passionate about content creation, writing, and relationship-building. He is currently a marketing and communication intern at Greenbird.