- The results of the HFS Pulse study for 2H 2021 are in and they speak a lot about the technology-averse energy and utilities sector. The 2H iteration of our semi-annual Pulse study surveyed 600 respondents from the Global 2000 across North America, Europe, and the Asia Pacific. Of these, 63 respondents hailed from the energy and utilities sector.
- In our 2H Pulse survey, we asked respondents about the three most important emerging technologies their organizations are expecting to invest in the most in the next 12 – 18 months.
- 52.4% of our energy and utilities respondents indicated cybersecurity will be their top-ranked investment in the next 12 – 18 months. This is a likely outcome of increased adoption of cloud in the sector – indicating potential data theft and ransomware attacks.
- Energy and Utilities immediate priorities are hybrid-cloud or multi-cloud (44.4%) and process automation (42.9%) to ensure single, flexible, and cost-effective infrastructure and optimize control and performance.
- When we combine the top-three priority investments, companies can provide customer-centric enhanced experiences like data privacy and smooth service interactions, which will ensure customer satisfaction.
- Despite all this, the most alarming finding in this data is the low intent for investing in smart analytics (4.8%) given the enormous data this sector generates. With smart analytics in place, the companies will not only be able to optimize control and performance but also provide insights-based personalized recommendations to their customers. As they say, data is the new oil.
The Bottom Line: While cybersecurity remains an irrefutable priority for energy and utilities companies, they must not ignore smart analytics. It helps with optimized control and performance, and more importantly, provides insights-based personalized recommendations to customers. Smart analytics can improve operational efficiencies, reduce costs, help in managing of assets, lower carbon emissions, and improve energy management.
For more insights, take a look at the HFS Pulse Dashboard here.
Explore the HFS Pulse Dashboard
Take a look at the breadth of data in our Pulse Dashboard, which showcases data about current and future demand trends for technology and business services and related emerging technologies. See more here.
