Excerpts from the study:
- Energy companies observe a strong sense of importance for digital transformation. This is reflective both in internal operations and external product delivery. Traditional energy companies are increasingly expanding their product portfolio by integrating elements of digitalization such as data disaggregation and edge intelligence. Similarly, the survey shows a strong correlation between company revenue growth and its approach to IT investments for improving internal operations.
- The strong adoption of cloud services is in part due to the growing amount of data that companies are dealing with in the energy industry. Smart meters alone generate close to 1.1 billion data points in the U.S. and this is just with a 50% market penetration.
- Ensuring network stability and dealing with security threats rank as the top two IT challenges facing energy companies today. This is irrespective of company size and region, with the exception of Latin America. Latin American companies ranks security threats as their number one issue.
- Key drivers for IT investment varies by CIO and CEO. CIOs consider the ability to attract and retain workforce as top driver for IT investments in 2018, where as CEOs consider the ability to boost creativity and innovation as the top reason for IT investments in 2018.