Utilities such as electricity supply are like every other industry facing digitization. A number of benefits are thus cropping up for the consumers such as the use of social media for informing them about possible outages. Electricity grids and plants are now being run in a more balanced manner and flexible with their approach thanks to the judicious use of big data and algorithms. To back all this digitization, a more organized governance structure needs to be put in place. This kind of information dissemination and implementation of new hardware or software is usually performed by a Chief Information Officer (CIO). However, under such circumstances, a Chief Digital Officer (CDO) will be the better bet due to the difference in working. He/she will need to understand digitization’s impact on core processes such as production, delivery, trade and marketing. The link between the business systems and the IT systems to be used is more converged. Digitization helps achieving the company’s mission by supporting new products, ensuring improvement in performances and an increase in margins. The said CDO needs to be proficient in strategic thinking, business analytics, enterprise technology and the outlook need be customer-oriented. The person must have a mindset that supports business transformation, enables adoption of new ecosystems and must possess an agile style in execution.

Source:https://www.strategy-business.com/blog/Do-Utilities-Need-a-Chief-Digital-Officer?gko=59439

Uploaded Date:06 February 2018