The importance of leveraging data in Utilities

I've recently worked on a number of Executive leadership search assignments across the Utilities sector and there's been a recurring theme throughout each of them...Data.

The assignments have varied including roles such as: Chief Financial Officer, Managing Director, VP of Business Development - EMEA, Chief Customer Officer, Transformation Director, Head of Credit Risk - each of these requiring someone that can focus on leveraging data to drive performance.

The Utilities sector is typically brandished with a reputation for being behind when it comes to innovation, particularly when it comes to investment in technology adoption.

I often challenge my clients when they are hiring for these business critical positions. If I were to order take when it came to executive search, you would unlikely get the results that you were looking for.

In the famous words of Albert Einstein 'Insanity is doing the same thing over and over again and expecting different results.'

So are you insane?

Or are you ready to try something different to get the results that you are really looking for?

Data is imperative when setting the agenda for customer strategy across the Utilities sector for many reasons, including:

1. Improving Operational Efficiency - by continually pulling the data with an outcome focus, efficiency of teams and individuals across the operation can be analysed, assessed and improvements can be made for operational efficiency.

2. Improving Customer Service and Customer Efficiency - data gives you the insights to identify areas and anomalies to create targeted approaches to make improvements throughout the customer journey to make improvements.

3. Regulatory Compliance and Risk Management - the Utilities sector is heavily regulated, and by having the data and facts for reporting for the regulator, it takes away any ambiguity when it comes to compliance, ensuring that any risk is highlighted and enables you to work proactively rather than being reactive.

4. Innovation - by analysing data, you're able to understand what BAU looks like, which will give you the opportunity to leverage innovation and truly assess the ROI and impact of the changes implemented.

5. Planning for the Future - by assessing past and current data trends, you can accurately plan and forecast for the future, taking away any of the guess work.

6. Cost Reduction - through identifying inefficiencies holistically and areas to reduce costs.

7. Informed Decision-Making - take away the guess work and make decisions with the facts at hand.

If you have a Leadership appointment that you are looking to go to market with over the next 6 months, and want to have a discussion about your approach - even if just for some initial advice and guidance.

I help CEOs, COOs, CPOs, HRDs and business leaders improve the diversity, success and retention of their new C Suite, Executive and leadership hires across the Utilities sector, providing recruitment consultancy and Executive Search services. Helping you deliver a much-improved performance and ROI. If you would like to talk more about your unique challenges and to see if I might be a future resource for you, book a call here.