In this live studio interview at European Utility Week, Engerati discusses the current challenges in the world of big data and advanced data analytics with Mike Ballard, Senior Director Industry Strategy, Oracle.
Advanced data analytics covers a wide business spectrum and provides new insights into all parts of the utility business which can save money and time. Utilities are being forced to draw on new sets of resources and skills to make sense of the growing quantity of complex data.
Experience in data counts
However, many utilities don’t always seem to have the core capability to deal with big data effectively and the ability to scale, says Ballard. This is where Oracle’s experience as a data analytics leader can help utilities since they have an existing team of data scientists and a well established technology platform which has provided much value to businesses already. By buying this capability as a service from Oracle, utilities will have the advantage of using existing and established resources, as well as learnings from years of experience. “This will help utilities avoid having to go through that learning and pain. The value will be obtained a lot quicker than if they were to hire their own team of data analysts. Customers are saving millions of dollars a year through the use of Oracles’s data analytics capabilities.”
Ballard recommends a service based model because utilities would be paying for a service that creates value for them.