Customer data is important to utilities. In many cases, customer data analytics is described as the review of consumption patterns provided by smart meter inputs. Not only can customer data analytics be used to help control consumption, it can be used to increase customer experience. Loyal customers are willing to go with the utility in new directions with new products, services and rate structures.
Increasingly, utilities understand the value of two-way communication with their customers, on topics beyond consumption. In this scenario, customer data analytics involves understanding concepts such as:
- What customer segmentation is online
- Which customer segments respond to X, Y or Z
- What are the barriers for customer action
- What delights the customer
Combining consumption data with two-way communication creates opportunities for exceptional customer experiences, which create long lasting relationships. Through strong customer relationships, utilities are better positioned to evolve their products and services, and in doing so, bring along those customers ready and willing to go.