Four changes to enhance your ener­gy business

In this arti­cle we look at four ways in which tech­no­log­i­cal inno­va­tion, democ­ra­ti­za­tion and data improve busi­ness in the ener­gy indus­try today.
1. Achiev­ing high­er productivity

Using out­dat­ed tech­nol­o­gy affects our abil­i­ty to per­form our best at work. Advances in tech­nol­o­gy can improve labor pro­duc­tiv­i­ty and lead to a hap­pi­er work­force. Flex­i­ble work­ing cul­ture sup­port­ed by mobile hard­ware and ever-acces­si­ble soft­ware pro­vides indi­vid­u­als with the auton­o­my they need to pro­duce bet­ter work.

What applies to an employee’s work also relates to indus­try, pro­duc­tion and ener­gy. Glob­al­ly, we’re still too good at wast­ing things such as food, plas­tic, ener­gy and heat.

  • Tech­no­log­i­cal inno­va­tion can reduce this wastage and max­i­mize the val­ue of orig­i­nal resources.
2. Increas­ing your sales

In a glob­al­ized world, cus­tomers have more var­ied needs than ever before and can acquire any­thing they want at the click of a but­ton. It’s a chick­en-and-egg sce­nario – demands are being met, increas­ing and diver­si­fy­ing prod­uct choice at a dizzy­ing pace, whether it’s exot­ic fruits and veg­eta­bles, the lat­est gad­gets from the world’s tech hubs or imme­di­ate access to news, films and music. Exor­bi­tant access to a dig­i­tal world facil­i­tates this unprece­dent­ed sup­ply and demand.

  • With a pro­lif­er­a­tion of new ener­gy-based prod­ucts — home smart meter­ing, asset man­age­ment, EV charg­ing coun­ters – it’s up to busi­ness­es to iden­ti­fy what their cus­tomers want and deliv­er it prompt­ly and con­ve­nient­ly. The cus­tomers are there, they just need to see the products.
3. Cre­at­ing high­er cus­tomer loyalty

Inno­v­a­tive employ­ers encour­age ambi­tion and humil­i­ty at the same time.
This is a game-chang­ing approach in which con­tri­bu­tion is required from the entire work­force and influ­ence doesn’t result from tra­di­tion­al pow­er struc­tures. Giv­ing every play­er a voice instils com­mon­al­i­ty, result­ing in high reten­tion rates and employ­ee sat­is­fac­tion. It’s easy to trans­fer these HR ideas to the ener­gy world.

Cus­tomers expect more and more to have a say and an influ­ence on how things are run and what prod­ucts they need. They demand their pref­er­ences and require­ments be met by their cho­sen provider.

  • Now, it’s up to providers to under­stand and then meet those demands in an attrac­tive, under­stand­able and con­ve­nient way. Trans­paren­cy and acces­si­bil­i­ty are key.
4. Grow­ing your profits

Data sci­ence is a sim­ple and dra­mat­ic tool for busi­ness trans­for­ma­tion that is being adopt­ed slow­ly and incon­se­quen­tial­ly by the ener­gy indus­try. Yet, effi­cien­cy, pro­duc­tiv­i­ty and ulti­mate­ly eco­nom­ic sur­vival will depend on who best employs data insights to get into the mind­set of end-users and cre­ate the prod­ucts they will purchase.

  • Gath­er­ing data enables the cre­ation of rel­e­vant prod­ucts and ser­vices, there­fore boost­ing cus­tomer engage­ment. Using data clev­er­ly can even allow you to respond to your cus­tomers’ con­cerns in a way that turns poten­tial weak­ness­es into strengths.

The tran­si­tion to a sus­tain­able ener­gy world can be mas­tered most suc­cess­ful­ly in a cross-indus­try ecosys­tem that puts the end cus­tomer at the heart of val­ue cre­ation. Explore how Kiwigrid makes such an ecosys­tem pos­si­ble, and how your busi­ness can reap the ben­e­fits of this technology.

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