Utility companies are also facing risks in the areas of government regulations, resource availability, air pollution, damage due to natural calamities, getting investors to invest in them, etc. Every utility plant, whether its gas, water, electricity or phone, is different, depending on their source of energy.
If they rely on fossil fuels, the resource cost forms a huge chunk of their operating cost, followed by maintenance and labor. On the other hand, if a plant uses renewable energy, their energy costs are minimal with prohibitive maintenance and labor costs. Interactive dashboards can provide management with up-to-the-minute information, with data directly connected to reporting and constantly updating the visual, as opposed to traditional reports run by IT on a regular basis for decision-making purposes.
Predictive analytics is another area in which business intelligence can benefit utility companies. E.g., planning for a major storm by looking at similar past outages and clearing vegetation in its path, in advance, and having repair crews ready, having a preventive scheduled maintenance of plants based on past records, understanding customer interactions and behavior in order to improve customer service and satisfaction, thus reducing call volumes in call centers.