| | FEBRUARY 20196CIOReviewToday, among the various industries facing big challenges that can be resolved with digital transformation, the utilities sector is prominent. This is because unlike other industries that utilize digitization to transform existing processes and models, the task ahead of organizations in utilities is to use technology to find entirely new avenues for business across various areas and functions. Further, with many players in the industry operating in a diverse range of industrial spaces, the challenges, evolutions, and transformations are also varied. However, some innovative revenue models, process improvement, and sources are universal across the utility chain. The primary challenges in the utilities industry are related to regulation, heightened competition, macroeconomics and geopolitics, and technological implementation. Starting with regulation, as the energy and water regulations are continually changing in significant ways, organizations offering utilities concerning these resources are forced to move on to regulatory initiatives. These ever-changing regulations are resulting in an increase in the competition and causing business models to take on pressure from a digital customer experience perspective. Further, with energy starting to become a cause for conflicts in certain areas around the world are enhancing partnership challenges between businesses and utilities tech providers based in the affected geopolitical region. However, with the evolution in technology going hand in hand with the ever-increasing challenges in the industry, the utilities industry is capable of turning their digital transformation strategies into huge opportunities. Among the technologies playing a crucial role in the technological evolution in the industry, the Internet of Things (IoT) and Big Data are the two that stand out in particular. According to Gartner, there are 299 million IoT units installed in the utilities market, making it second after manufacturing. Also, in an industry that includes the usage of smart devices, the collection, analysis, and insights offered by data have become vital. With Big Data, organizations in the utilities market are now able to turn data into competitive benefits and gained efficiencies.As more innovative technologies boost the transformation rate of the utilities landscape into a smarter facet the market, the significance of an experienced and highly effective third party solutions provider is becoming increasingly apparent. At this junction, CIOReview presents its Utilities Tech edition featuring insights from industry leaders and solutions offered by innovative technology providers. We hope this edition is helpful in preparing you for the challenges of tomorrow.Let us know your thoughts.EditorialOptimizing Utilities through InnovationCopyright © 2019 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewFEBRUARY - 26 - 2019Editorial StaffSalesAaron PierceCarolynn WaltersDane StanleyShikha PatraEric Thomaseric@cioreview.comVisualizersIssac GeorgeAR RamjithManaging EditorJustin SmithUTILITIES TECH SPECIAL*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffJustin SmithManaging Editoreditor@cioreview.comContact Us:Phone:510.722.8394Fax:510-894-8405Email:sales@cioreview.comeditor@cioreview.com marketing@cioreview.comFEBRUARY - 26 - 2019, Vol 08 SE 06 Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReview
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