All Utilities Have Risk Models — Why Don't They All Scale?
Creating a "common operating vision" from disparate data sources
Imagine a common tool, be it a dashboard, report, automated alert, or combination thereof, that enabled you to understand the current and future condition of your entire utility infrastructure: the hazards facing it and the risk of failure down to the individual component level.
The tangible impacts that such tools can have on daily operational decisions about assets and safety for utilities are transformative. Today, most utilities are busy developing risk models for this express purpose — to serve as the primary means of converting data into decisions around investments, repairs, and service capacity, including when to temporarily shut off service. Still, while data-driven risk management models are nothing new, and despite their clear benefits, why have so few utilities succeeded in scaling their risk models effectively to the enterprise level?
Answering that question means starting with the decisions to be made and assembling the data needed to inform those decisions and empower your risk model.
