Electricity is one of the most important services for different communities. Without electricity, you wouldn’t be able to turn on the lights or cook a meal at your home. Therefore, energy suppliers have an essential job of ensuring everyone has a good electric plan that works well for them. This is also a competitive market, so if you’re trying to run a successful business as an energy provider, you need all the help you can get. This is where your software systems and business intelligence platforms can make a real difference for your electricity company.
One of the first updates you should make is changing your digital architecture. Rather than relying on the outdated, slow request/response system, it may be time to upgrade to event-driven architecture (EDA). This design pattern allows your organization to respond to real-time events as they are happening. Rather than waiting on approval or for all the data to come in, this architecture responds to each data point. This puts machine learning and artificial intelligence in charge, so you can get work done quicker and more effectively. Here are just a few ways you can improve your energy company by implementing EDA.
Help customers compare prices.
One of the biggest perks of this digital program is how well it interacts with customer requests. It makes their interactions much simpler online. If someone requests to see their electric rate, the event producer can respond with the best rate right there and then. This is great for when customers are shopping around and need to compare electricity prices and suppliers. People are looking for a unique rate plan in a competitive field that will lower their energy bills and give them great service. By asking for details and comparing electric suppliers, they’re deciding where to commit their business. Be prepared to show them why it should be you. The simple event of asking for a quote on an electric bill should be a simple notification that will help show your consumers that you care.
Automatically keep up with account changes.
The point of event-driven architecture is to help companies and consumers communicate more immediately and effectively. An event notification takes place whenever something changes within your system. A new event could be anything from your inventory changing or a customer asking for a password reset to a credit card bouncing. This can streamline your business process as an electric service because you can automatically keep up with any account changes. If someone changes their automatic payments or wants invoices sent to a different location, your event processor will automatically make the change. This takes complex events and makes them easier for the sender and message broker.
Let technology take care of the little, nitty-gritty things.
When you’re running a utility company, there is a lot to stay on top of. You’re running power lines and checking energy bills. You don’t have time to sit around and wait for technology to catch up with you. This event-based architecture will take care of the small details for you. Rather than having to process every event one at a time and manage your own workflow, this platform will take care of that so that you can focus on scalability and big-picture items.
Track energy usage automatically.
Data analytics is a huge part of any company. As you’re tracking energy levels and understanding customer trends, you have a lot of information to sift through. An event-based system will help break down any event and allow you to understand the variables between customers. This will help you find lower rates and reach more people in the energy market.