Business as usual isn’t an option for the utilities sector. Technology is reshaping the marketplace causing sectors to converge, allowing new entrants to the market and transforming customer expectations. But this isn’t new for other sectors, and utilities firms can learn from other companies that have successfully survived and thrived in a disrupted marketplace.
In our review of technology disruption, we identified five major themes that have a direct impact on the utilities sector.
1) Customer experience
In the age of the empowered consumer, we examine the link between customer experiences and improve performance.
As technology brings down barriers to entry, we look at the growth of challengers in disrupted markets and what they offer customers.
3) Asset-light business models
At the heart of the so-called collaborative economy, the principles of asset-light business models can be applied to other, more traditional industries.
4) Big data and pricing
As analysis techniques grow ever more sophisticated, we consider the opportunities to use data to underpin dynamic and responsive pricing models.
5) Sector convergence
We examine sector convergence as an unstoppable trend, drawing in competitors from sectors but also opening pathways to fruitful partnerships.