The energy sector has faced a major transformation in recent years. The liberalization of the energy sector ensured that energy supply was no longer possible in the traditional “push strategy.” The customer became the center of attention, as customer churn became a common concept within the sector. From now on, an individual could actively choose an energy supplier, something that was impossible before. In their choice, customers were initially often led by favorable pricing. In a later phase, green energy made its appearance and became a decision factor just as valuable as price. In order to tackle these changes, suppliers started recruiting complementary profiles in other sectors that experienced a similar transformation. These recruits came mostly from the financial and telecom world to embrace a more customer centric approach within the organizations.
In July 2018, Flemish distribution grid operators Eandis and Infrax joined forces, merging into a new company called Fluvius. Its main purpose? To distribute electricity and gas to individuals, companies and local administrations, as well as provide them with other public facilities such as heat networks and telecom. In addition, Fluvius acts as a social and fall-back supplier and supports local and regional authorities in their sustainability and rational energy & water use policies through awareness campaigns and incentives including energy grants and green power certificates. The 2018 merger is expected to save 110 million euros each year, meaning that consumers will see their gas and electricity bills drop by about 36 euros.
In this series, we will take an in-depth look at our current analytics projects in the utilities sector. We will primarily allow data scientist and AE consultant Jan Vercammen to speak to clarify the synergy between sector and solution. In the previous series, we already discussed the Customer Journey tooling and the Churn insights Tool. Today, we will tell you more about another innovative project: tariff setting with Smart Meter Data.
In this series, we take a closer look at some analytics projects for our energy customers. In a previous article, we already discussed an innovative customer journey tool. Once again, we will let Jan Vercammen speak. He will tell us more about a Churn insights tool, which is helping to solve one of the biggest issues plaguing the utilities sector.
The versatility of analytics is still underexposed. All too often, analytics is lumped together with reporting and tracking, while it is a so much richer domain. That is why in this series, we will take a closer look at the many possibilities analytics has to offer. In order to gain more insight in various business processes, AE developed three useful tools: a Dive into Customer Journey’s, the Smart Meter Project and the Churn insights tool.