Reducing Production Costs by 27% by for an Energy Company in the US by Performing Trend Analysis Solution
Energy Sector Outlook The United States is a leader in the production, supply, and consumption of energy. Growing consumer demand and increasing transition to a low-carbon economy make the United States one of the world’s most attractive markets. To meet the current energy transition, companies will need to adapt to the trends that will shape [...]
Energy Sector Outlook
The United States is a leader in the production, supply, and consumption of energy. Growing consumer demand and increasing transition to a low-carbon economy make the United States one of the world’s most attractive markets. To meet the current energy transition, companies will need to adapt to the trends that will shape the energy sector in the coming years. Also, identifying hidden opportunities in the market and keeping a close watch on market trends and industry updates are becoming inevitable for companies in the energy sector to succeed in the long-run.
The client is an energy company based out of the United States. The company produces electricity from clean energy sources including wind, solar, hydropower, geothermal, and nuclear power.
Our client, an energy company, was looking to carry out a market trend analysis to stay informed about the present as well as the long-term forecasts of the market. Through Infiniti’s trend analysis engagement, they wanted to gain a clear perspective of the current energy trends, identify energy resources leveraged leading US-based companies, and evaluate the factors influencing the decision-making process of customers.
In addition, they wanted to tackle challenges such as:
Transition from traditional to intelligent grids:
Although traditional electricity grids were appropriate to avoid overloads in the past, the rising number of decentralized energy generators demanded a more versatile approach to match supply and demand. The client also noted that leading companies in the US energy sector have started investing into smart grids to tackle this challenge. With Infiniti’s market trend analysis solution, the client wanted to identify the cost-effective technologies leveraged by the top companies in the US energy sector to prevent costly outages.
Rising investment in holistic digital customer experience:
With the proliferation of smartphones, major companies in the energy sector are already launching mobile applications through which their customers can manage their plans, make payments, and receive notifications. In order to gain a competitive edge, the client wanted to offer a consistent, user-friendly journey for their customers. To do so, they wanted to identify digital technologies gaining popularity in the US energy sector.
The experts at Infiniti Research followed a three-phased approach that involved:
Market intelligence engagement to assess the company’s long-time profitability, identify business gaps, and evaluate profitable market opportunities.
Market trend analysis to identify the latest trends in the US energy sector and foresee potential growth opportunities.
Market scanning and monitoring analysis to stay on top of market changes and industry developments.
The insights obtained from Infiniti’s trend analysis engagement helped the energy sector client to adapt to market trends and gain a competitive edge. Also, by thoroughly evaluating the company’s past sales data, the experts helped the client to identify the factors that affected their profit margins. By investing into cost-effective technologies like smart grids, they were able to reduce energy waste and prevent costly outages before they actually occur.
The experts also helped the client to identify the digital technologies gaining popularity in the US energy sector. By investing into digital technologies, they were able to strengthen their competitive position in a market, improve customer satisfaction, boost customer retention, and increase revenues.
Within two years of leveraging our trend analysis solution, the energy sector client was able to decrease CO2 emissions and reduce production costs by 27%.