IDC Energy Insights hosted a Webinar to reveal the major findings of its "European Utility and Oil & Gas Companies Take Digital Transformation to the Next Level" study
On July 7th, IDC Energy Insights hosted a Webinar to reveal the major findings of its "European Utility and Oil & Gas Companies Take Digital Transformation to the Next Level" study. The study covered 11 industries, across 9 European countries, namely France, Germany, Italy, Spain, the UK and the 4 Nordic countries (Denmark, Finland, Norway and Sweden). The study was focused on European organizations which are undertaking Digital Transformation projects in their organizations, and was in the field between March and April of 2016.
Digital transformation (DX) is revolutionizing business models, causing disintermediation, and opening up to the industry to non-conventional competition, while raising the bar of customer expectations. No industry in Europe is immune, but utility and oil & gas companies are particularly feeling the heat of DX.
Major findings of the study, presented in the Webinar, include:
- Compared to other industries, utility and oil & gas companies are more skeptical about the opportunities DX can bring, with only 15% perceiving DX as a significant opportunity, and 43% perceiving DX to be at least somewhat of a risk.
- Utility and oil & gas companies are upping their DX game. All companies surveyed indicated they have put DX efforts in the hands of a dedicated leader, and over 92% are pursuing DX initiatives.
- Almost all surveyed companies indicated that Digital transformation is a key element in their corporate strategy. In fact, the "digital agenda" has become the business agenda for utility and oil and gas companies across Europe. Especially for utilities, their ability to digitally transform will be vital for their future as they seek to reinvent their business.
- For many companies, digital transformation seems to have started as a response to customers’ growing demands and needs. In fact, key priority for investments with regard to digital transformation over the next 12 months will be customer experience, as well as operational efficiency. To deliver superior customer experience, improve brand reputation and speed up actions, the majority of European utility and oil & gas companies are overhauling or enhancing their digital, self-service, and mobile touchpoints.
The Webinar is available for on-demand listening here: ow.ly/BZPd301MUsK
Speakers: Roberta Bigliani, Associate VP, IDC Energy Insights – EMEA and Gaia Gallotti, Research Manager, IDC Energy Insights – EMEA
