Navigant Research Report Finds Utilities Need a More Strategic Approach to Weather Data

Utility and technology vendors can help address challenges by
taking an enterprise-wide view of weather data and making better use of
existing weather data assets

BOULDER, Colo.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/ClimateChange?src=hash” target=”_blank”gt;#ClimateChangelt;/agt;–A new report from Navigant
Research examines potential applications of weather data in the
utility industry, providing recommendations on strategic approaches.

As climate change-related extreme weather events continue to cause
significant problems around the world, weather data is becoming
increasingly important. In the utility sector, though, this type of data
is often underutilized, and the lack of a strategic approach can lead to
missed opportunities to improve operations and develop new business
models. Click
to tweet: According to a new report from @NavigantRSRCH,
many technology and analytics vendors hope to improve utilities’
approach to weather data.

“Utilities have been using weather data for years, but only in a handful
of applications, which means the responsibility for weather insights is
fragmented across the enterprise,” says Stuart Ravens, principal
research analyst. “For example, owners of a hydroelectric power station
pay close attention to rainfall statistics to predict when and how much
power to produce. The more accurate hydro owners are at predicting
future rainfall, the more accurate their power trading strategies.”

According to the report, utility and technology vendors can help address
utility challenges by taking a strategic view of weather data and making
better use of existing weather data assets. In addition, they can
incorporate weather data into new and existing services, centralize
weather management, and recognize the mutual benefits between utilities
and weather data vendors.

The report, Unlocking
the Value of Weather Data through Strategic Management, examines
the potential applications of weather data in the utility industry and
provides recommendations on more strategic approaches when using it. The
study explores the emerging discipline of weather management and how it
can support operating and business model innovation. It also discusses
select use cases for weather data in the utility industry that depict
how such data can be used to provide valuable insights across the entire
utility value chain. An Executive Summary of the report is available for
free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Unlocking the Value of Weather Data through Strategic
Management, is a summary and reflects Navigant Research’s current
expectations based on market data and trend analysis. Market predictions
and expectations are inherently uncertain and actual results may differ
materially from those contained in this press release or the report.
Please refer to the full report for a complete understanding of the
assumptions underlying the report’s conclusions and the methodologies
used to create the report. Neither Navigant Research nor Navigant
undertakes any obligation to update any of the information contained in
this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul
+1.781.270.8456
lindsay.funicello.paul@navigant.com