Digital transformation in the Utility Industry and migration of on-premises Data to the Cloud
Date
2022-12
Authors
Joshi, Neha
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Altmetrics
Abstract
Information technology (IT) and data solutions are the backbones of modern electrical utility companies. In the past decade, IT has advanced from traditional on-premises computing to cloud computing providing the benefits of scalability, flexibility, and efficient use of the computing capacity. Heavily regulated American Utilities have been slow in this digital transformation movement. Traditionally regulations favored big capital investments, which were recovered over a long period of time, thus keeping the electrical prices for customers in check. In contrast, IT cloud services are periodic cost models with short-term benefits and typically receive no rate of return from the ratepayers, which has slowed the migration of on-premises data to the cloud [1][2]. But the new advancements in the field of Cloud and AI and the success in other industries are pushing utility companies into trying opportunities to optimize business practices for maximum cost-effectiveness and achieve maximum efficiency using Cloud Services.
This creative component intents to answer the following research question-
1. Why is digitalization (Enterprise Cloud Storage and Services) important for Utility Industry?
2. How is digitalization progressing in the Utility Industry?
3. How do Utility companies use Cloud services and Business Intelligence tools to make
effective decisions and optimize business processes?
This research provides an overview of current digitalization trends in the Utility industry, the challenges the utility industry faces while transforming, and what benefits digitalization holds for the Utility Industry.
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In this study, I will focus on providing qualitative research on the subject to explore the digital transformation occurring in the Utility Industry, or the so-called Utility 2.0, review the available literature on topics related to digital transformation and shortfalls in legacy systems and document my learnings from the ongoing and completed projects as a Data Engineer – Intern at Berkshire Hathaway Energy.
Keywords: Digitalization, Cloud Computing, Saas, PaaS, IaaS, Microsoft Azure, Oracle ODI, Business Intelligence, Artificial Intelligence
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creative component
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2022