Electric companies are poised to become future IIoT leaders. Here’s why.
Primarily driven by Advanced Metering Infrastructure (AMI), the Industrial Internet of Things (IIoT) has fundamentally changed electric utilities. Technologies that let devices act as two-way communicators between consumers and utility providers paved the way for new opportunities.
Digital transformation is here, and businesses have to reinvent themselves to stay competitive and relevant. Still, many electric utility providers aren’t ready to leap into Industrial 4.0.
Why?
Because adopting and integrating smart tech into legacy IT and OT infrastructures can seem daunting. Learning new skills is challenging and takes time, and potential setbacks, like unplanned downtime, can leave utility leaders fearful.
Many utility leaders are riddled with doubts regarding the technological uncertainties of IIoT.
It’s understandable.
With rapid growth come growing pains. The IIoT journey from uncomplicated AMI to vast, smart grid expansions is challenging.
Urbanization is quickly expanding, energy prices constantly fluctuate, legislation is always changing, and sustainability is paramount. Because of this, utilities must refine their operations to meet evolving consumer demands for sustainable, affordable infrastructures.
IIoT adoption won’t happen overnight, but you have to start somewhere. Here’s how:
Introduce real-time monitoring equipment like sensors, readers, and alarms into your operations. And use technology to automate processes, conserve resources, improve outcomes, and eliminate downtime.
Still, understanding how IIoT can impact your business is a great place to start.
How can IIoT solve your problems?
The benefits of IIoT are hard to ignore. Almost no one would balk at real-time data collection or say “no” to monitoring critical system health. Who would pass on the opportunity to improve efficiency and safety? Almost no one.
Let’s face it. Competition is stiff, and unhappy customers create churn. Cost and efficiency drive consumers these days. They’ll switch providers with a simple click.
Customer churn is inevitable if you can’t provide reliable service. That’s why your technologies must allow you to react in real-time.
Seconds count when it comes to your customers.
Connecting your devices, sensors, and alarms to the Internet, lets you monitor and utilize data in real-time to:
- Increase efficiency
- Use automation
- Reduce errors
- Work remotely
- Enhance security
- Boost profits
- Make better decisions
These are benefits you can’t afford to miss.
Implementing IIoT is a surefire way to open personalized customer communication. IIoT lets you tailor services to specific customer demands.
We can’t understate the value of using edge technology and wireless connectivity to remotely operate, analyze, and optimize your electric utility operations.
As energycentral.com points out, “utilities who refuse to adapt or change will suffer financial losses, countless preventable maintenance issues, and a waste of resources.”
How can utilities lead the next wave of IIoT?
IIoT is how power and utility providers will operate in the future (many already are).
Traditional energy production and distribution methods are obsolete, and the days of manual processes and zero real-time visibility are over.
IIoT is transforming how utilities run vast, widespread, and remote operations, and internet-connected devices and machines are reshaping the ways utilities operate.
Technology never stops evolving, and transitioning into Industrial 4.0 and IIoT isn’t an option anymore. The pandemic increased automation and digitization demands, producing a ripple effect that’ll extend into the future of IIoT.
Utility companies are partnering with tech companies to create innovative solutions to improve sustainability and become more efficient.
As IIoT adoption accelerates, the opportunities to provide amazing service increase exponentially. With IIoT, utilities are proactive instead of reactive. And predictive maintenance through AI lets utilities continually learn and optimize operations.
It’s a new era in the power industry. And smaller utilities are outpacing massive corporations. Smaller, more agile businesses are transforming the industry with their smart business models.
And these same small businesses pose a threat to established corporations digitally transforming too slow. Providers that embrace IIoT will emerge as utility leaders in the next several years.
Put your business and your customers first.
You can’t afford to not implement IIoT into your electric utility operations. It’s time to put your business and your customers first
FreeWave is second to none when it comes to proven IIoT solutions and making the most of your data. We’re the leaders in edge computing and wireless connectivity. We’ll accelerate your digital transformation.
Our technologies are fast, flexible, and easy to deploy. We’ll have you leveraging IIoT, big data analytics, and connectivity to take the guesswork out of your operations in no time.
And you can do it all without a complete infrastructure overhaul.
You’ve been improving your utility operations for years; why stop now? We want to take your operations to the next level. Get in touch; let’s chat.