As we slowly start out on the road to economic recovery, how will utilities companies understand which customers are likely to adopt solar, join micro grids, demand pay-as-you-go plans, or expect their utility to provide in-home energy management? How will they address billing issues given relief measures put in place by government bodies? Questions the EXCO may be asking include:
- Are we gaining or losing customers?
- Is revenue going up or down?
- Are customer complaints on the rise?
- Are payments coming in on time and what our delinquency rate?
- Are we responding appropriately to customer contacts and unpaid bills?
Fortunately, technology and analytics have become so advanced and affordable that gaining a full understanding of all customers' interactions—that can help to protect your revenue and increase customer satisfaction—is no longer out of reach.