Business Strategy: Framing the New Solutions in Asset Management
This IDC Energy Insights report discusses the ongoing challenges facing the utility industry that have continued unabated for the past 10 years: extending the life of aging grid assets, replacing the retiring workforce, and always doing more with less. The pressure on CEOs to deliver on profitability is mounting, and an efficient operation is the vehicle to carry them forward. When we consider asset management processes, the utility industry has passed through discrete stages that began with basic break/fix processes. Today, utilities are moving through the fourth stage that uses predictive asset maintenance.
"Asset management is getting a performance boost in large part through a collection of readily accessible information technologies. Data production is leading to increasing real-time data streams and expanding data stores. Coupled with decades of asset operating data, this unfolding reality creates a dynamic to develop deep asset insight," says, Marcus Torchia, research manager for IDC Energy Insights.
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