Utilities Tech Outlook Weekly Brief
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Meter data management provides support to businesses in enhancing operational processes.
FREMONT, CA: With the evolution of metering, from being just a component of a revenue cycle for meter-to-cash use cases to being an enterprise function offering operational benefits across multiple core business processes, metering has become much more than just a component of the revenue cycle. A successful digital transformation for utilities begins with choosing the right solution that drives the mission-critical operations and new customer-focused solutions that are critical to the success of the transformation. As the digital backbone of energy companies, the chosen solution should go beyond MDM. Providing new business models and use cases should be central to a solution's design.
Market-driven technology: When utilities are designing and evaluating their MDM solution, they should consider a solution targeted at the latest IT technology, including that used by hyperscalers and social networking applications of the modern age. An ever-changing utility sector requires an indefinite scale and maximum flexibility.
Easy implementation of current and future intelligent grid regulations: Flexible data models, smart integrations, and easy configuration for use cases in the energy value chain should be considered when designing the solution.
Ready-to-integrate: MDM and MDC should be integrated with customer systems through an integration layer that manages and monitors data exchanges. It allows the utility to manage the end-to-end value chain across all involved systems, integrations, and data exchanges for AMI and smart grid IT landscapes like metering, collection, meter data management, billing, reporting, and market communication. During implementation and operation, this will reduce project risks.
Cloud-based managed services: benefits
The cost of building and maintaining traditional on-premise systems is high up front, and businesses are stuck with underutilized infrastructure from the start. There is great flexibility when using infrastructure on-demand owing to a cloud solution. Analytical processes can run in parallel with base transaction loads that are highly intensive. As a result of the elasticity of the cloud solution, customers' energy data transactional and analytical workloads can be run at the lowest possible costs.
Business foundation
An MDM solution must have the capability to enable utilities to provide homogenous inventory and measurement processing mechanisms by consolidating all measurement management information into a common repository. Increase business flexibility, agility, and adaptability to regulatory changes by integrating a platform that provides software infrastructure, services, and data models to streamline measurement management processes. And leverage Data Analytics and Machine Learning technologies to enable new business models and opportunities.
