Big Data Industry Approaches to Operational Excellence

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1 Big Data Industry Approaches to Operational Excellence The Value of Big Data in the Power and Utilities Industry

2 Overview Evolving systems and infrastructure to meet the needs of 21 st century demands of customers and shareholders Big data and analytics are proving to be transformative cornerstones in the journey of new systems and processes being undertaken by today s power and utilities industry. The amount of new data coming in from various sources are forcing organizations to re-examine how they view information strategy, operational structure and customer engagement, as well as their ability to cope with change and adopt a more holistic, enterprise-wide approach to managing new data flow. As operational processes and tools within the grid have increased and matured, so, too, has the amount of data being collected as well as the evolution of analytics capabilities. Where once analysis was done on an ad-hoc basis through complex spreadsheets or business intelligence reports, the industry is moving forward with quicker methods of analysis. Armed with the ability to know what to look for, companies can yield insights from real-time information. This allows them to look forward with predictive and prescriptive analytics, creating real value to proactively mitigate potential operational problems before they arise. Data analytics is providing utilities with an opportunity to manage their operations based on data-driven decisions. By using analytics, they are better positioned to improve customer satisfaction; improve operational reliability through monitoring and predictive maintenance; and expand operational efficiencies through improved planning and execution.

3 Driving value Looking at information technology to provide value in improving operations and customer satisfaction Organizations have come to recognize the importance of investment in big data analytics. The top motivators for companies are cost reduction, financial and regulatory reporting and analysis, and workforce and operations optimization. The power and utilities industry see the value of their investments to support two major areas: Customer Satisfaction. Target marketing to evaluate customer response to programs and product development. Operations Optimization. Detecting fraud and pinpointing locations of outages for workforce deployment in a timely manner, as well as cultivating safety in the workplace. Regulatory Compliance. Responding effectively to new regulatory pressures. To fully drive value from big data and analytics, it is imperative to look at data and at analytical processes across the organization, beyond each of the company s traditional organizational silos. There is great value to be had in sharing and leveraging diverse sources of data across the entire enterprise. An effective approach to big data and analytics is one that is able to better utilize existing resources to focus on the right tasks. It also transforms data into actionable information, making it easy for the company to access and use information to drive business results as well as respond adequately to a heavily regulated environment. In choosing an analytics solution, it is important to consider the entire analytics process. A collaborative approach to the process, enterprise-wide needs to leverage both the captured data and the experience from all areas in the enterprise, rather than hold it in silos.

4 Harnessing big data with cognitive technology and predictive analytics is not just a theoretical exercise, it is a practical approach to optimizing your enterprise s operations as well as respond adequately to regulatory pressures. From revenue assurance and resource (employee) utilization to reducing both infrastructure and asset replacement costs, predictive analytics can leverage data from multiple sources, across organizational silos. At 360factors, we help companies derive value from big data through a single platform to increase operational excellence and operating income, as well as create value for their customers and shareholders.

5 How we can help Enterprise Regulatory Risk and Compliance Management Solutions 360factors recognizes the implications of operating without critical information. We use big data approaches as a competitive differentiator to prioritize your business objectives, vertically integrating your company s traditional silos to allow you to optimize your operational processes, respond regulatory pressures and create value for your customers and shareholders. Rise to regulatory challenges. Through our industry-focused approach and using unique mapping and cognitive technologies, we help companies in the power and utilities industry address their regulatory challenges harnessing the power of big data and analytics for business sustainability. Drive high performance. Our experts use a unique risk, compliance and quality management platform that help capture real-time, relevant data to aid in the decisionmaking process to ultimately improve business outcomes. GRC automation. Our platform further allows companies to streamline GRC as a competitive differentiator, automating the entire risk process to protect them from a host of liabilities and enforcement action as well as streamlining the risk assessment process to manage operational and regulatory compliance. In our experience, we have found that organizational information is typically historical, incomplete and inaccurate. For a forward-thinking perspective, companies must derive value from big data using unique mapping and cognitive technologies. However, traditional systems and approaches can no longer efficiently handle the speed, volume and complexity of big data.

6 Learn how Predict360 can transform your compliance management process. Call today. Schedule a FREE TRIAL and DEMO online at Headquarters 1380 Burnet Road, Suite 100 Austin, Texas Global Offices Canada Pakistan Philippines Connect with us and stay in touch Bobby O Neal Director of Sales T: E: Sajjad Gul Director of Business Development T: E: Rosanna Lyn Director for Product Management T: E: Operational Excellence. Sustainability. Increased Margins. 360factors is a cloud-based Regulatory Risk and Compliance Management Software Company specializing in Oil & Gas, Power & Utilities and Banking & Financial Services industries. 360factors platform, Predict360, uses unique mapping and cognitive technology to provide regulatory insight, predict risks and increase sustainability and margins. Predict360 helps break down silos and overlapping costs through multiple tools to improve operational excellence, visibility to risk and quality data that executives can use to make decisions in a timely manner. Additionally, it provides functional compliance managers with an out-of-the-box solution with industry-specific regulations or standards, workflows and policy & procedure templates so they can perform the day-to-day regulatory and operational risk and compliance tasks at a functional level.

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