Big data is reshaping society and the services used by citizens on a daily basis – energy included. Big data is not just for retailers looking to track product sales. It transforms decision-making within an organization, enhances the allotment of resources and takes customer experience above and beyond.
Utilities are now tapping into the huge benefit of big data and analytics to better manage resources and provide customers what they need, when they need it, at an affordable cost.
In this exclusive interview with Raymond Tracey, President & CEO of Essex Power, he delves into how big data is energizing his organization for the better.
- In your opinion, for those trying to adopt Big Data practices, what are the top 2 challenges for its implementation?
Choosing the correct Big Data platform (Hadoop, Mongo, Microsoft, Oracle etc.) and support with the correct technical resources and competency.
- What are your top 3 benefits of tapping into the power of Big Data?
- Understanding relationships within information to support strategic and business decisions.
- Enabling additional non-relational (time series) streams to be consumed to create reporting.
- Analytics and developing a platform to support business intelligence and autonomous decision-making.
- What tool or practice do you find most effective in managing your Big Data?
Partner with someone that is experienced in Big Data, Data Science, Data Mining and Business Intelligence.
- What are your thoughts on IoT? What impact do you think it will have on Big Data?
IoT will grow exponentially, which will magnify the importance of being prepared to handle big data and assist in turning data into decisions.