It’s no secret that in the utilities industry, staying vigilant of emerging IT trends is critical, especially where your distribution infrastructure and service reliability are concerned. Recently, a trend we have seen grow and develop into useful business intelligence is leveraging analytics in your utility to improve and generate efficiencies in your organization.
With this in mind, what does it mean to deploy analytics in your utility? It signals a look to the future as you usher your utility further into the digital age with real-time actionable considerations around your customers needs, preferences and niche characteristics. Additionally, embedding analytics directly into your application allows for a seamless transfer of information to provide you with valuable customer insights right at your fingertips.
Interested in learning more about how analytics can power your utility to new heights? Start with this video from Vertex Director of Analytics & Consulting Chirag Shah. Watch below to see how analytics have quickly grown into one of the most useful and intelligent tools for managing and enhancing customer engagement.
Analytics enable you to not only predict customer interactions and behavior, but influence it as well. When applying this to the customer lifecycle, you’ll find that your customer acquisition rates improve as you identify individuals who have the highest potential to become customers and use that insight to further develop how to acquire and retain them. As a result, you can predict the likelihood of a customer defecting as well as analyze the causes and sources of attrition.To watch more videos from the Vertex team, check out our YouTube channel.