Industry Disruptors and the Imperative for Dual Innovation
- Increasing environmental pressures.
- A rapidly evolving customer relationship.
- Growing use of big data technologies in grid operations.
- Restricted revenue growth and pressures to grow margins.
- Utility industry consolidation in the electric and gas sectors.
- Enterprise cyber security concerns.
- Changing utility regulations.
In the past decade, these industry trends and issues have placed increasing pressures on utilities to transform their enterprise operations. And those aren’t the only pressures in play: The industry is also being disrupted in a dramatic way by digital transformation, new technologies, outside competitors entering the market, and—in the case of electric utilities—distributed energy resourcesIn this rapidly changing environment, utilities are facing a dual innovation challenge: the need to incorporate innovation into core business processes while also innovating around new processes and services.
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