What Utilities Can Learn From Amazon [Original Content From Tendril]
The Energy Gang
Wood Mackenzie
4.6 • 1.3K Ratings
🗓️ 6 March 2018
⏱️ 38 minutes
🧾️ Download transcript
Summary
Amazon's analytical approach to understanding the customer allowed it to move beyond books and dominate the retail space. Entire industries are getting upended and transformed as a result.
This story about disruption is a familiar one. We’ve seen how it plays time and time again – and it’s not pretty for the incumbents who fail to catch up with technology.
It's a compelling narrative in the utility space, where we are smack in the middle of an Amazon moment. Electricity consumers want choice. They respond to personalization. And there’s a new generation of technology providers who think they can give consumers what they want – better than traditional brick and mortar utilities.
And that’s why Tendril CEO Adrian Tuck sees the importance of talking about Amazon as a model.
“How did they go from one thing to this broad level of disruption? They massively focused on the customer and what the customer wants. They looked at every piece of the chain and they tried to make everything easier for the customer. They’re really looking at all those pieces and innovated rapidly to make the buying experience compelling and simple to use," said Tuck.
In this podcast, we'll talk with Tuck about the future of data acquisition, personalization, demand-side management and utility business models. Recommended reading:
- Tendril e-book: The Amazon Effect: Energy in the On Demand Era and What It Means for Utilities
- GTM: Utilities Have the Tools to Unleash the Power of Customers
This podcast is brought to you by Tendril, the industry’s leading DSM data analytics software provider.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:00.0 | This podcast is brought to you by Tendrel, the industry's leading demand side management data analytics software provider. |
| 0:07.0 | If you're interested in this topic, Tendrel has a related e-book. |
| 0:10.0 | It's called the Amazon Effect. Energy in the On Demand era, and what it means for utilities. |
| 0:15.0 | You can download that at tendrel Inc...com. slash podcast. |
| 0:19.0 | That's like Tendrel Inc. Amazon made 177 billion dollars in 2017 selling us, well selling us everything, |
| 0:36.2 | and knowing exactly when we'd want it and for how much. |
| 0:39.2 | It was hard for most people 20 years ago to imagine just how transformative Amazon would become. |
| 0:44.6 | In 1999 Bob Simon of 60 Minutes profiled CEO Jeff Bezos, looking back the language is clunky |
| 0:50.4 | and a bit comical. |
| 0:51.4 | You can't drop by, not in person anyway. |
| 0:55.0 | For the customer, Amazon only exists on the computer screen. |
| 0:59.0 | But Bézos does have an office, so we wangled an invitation. |
| 1:04.0 | There's an important moment in the story |
| 1:05.5 | when Simon sits down with Bazaos |
| 1:07.0 | to look at his buying history |
| 1:08.2 | and realizes just how much Amazon |
| 1:10.4 | can already predict all the other things he'll want. |
| 1:13.0 | It's quite a foreshadow. |
| 1:14.6 | Now, every time I use your website, |
| 1:17.5 | you learn more about me. |
| 1:19.4 | Yes. |
| 1:20.2 | One of your employees has said that you collect half a gigabyte, whatever that is, of information on your customers every day. |
... |
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