Exploring the Intersection of Digital Transformation and the Energy Transition
Digital transformation and energy transition go hand in hand, according to a recent study commissioned by Eaton, a global power management company. The study surveyed over 1,000 executives and found that businesses entering the era of energy transition need new digital tools to manage their changing mix of energy sources. With more renewables being added to the mix, businesses are generating more data than ever before and need to use digitalization to make sense of it.
According to the study, 77% of companies surveyed expect to transition away from their current energy mix and sources, but only 50% are executing the digital strategies needed to navigate this shift. This highlights a gap in how businesses are using digitalization to achieve their decarbonization and sustainability goals.
The study also found that power-intensive businesses, such as utilities, data centers, buildings, and industrial processes, can make the biggest impact by investing in digital transformation strategies. For example, utilities need cohesive ways to manage energy and data sources, while data centers can use digitalization to reduce their carbon footprint and create new revenue streams. Buildings can prioritize sustainability through smart building initiatives, and industrial processes can use digitalization to monitor power infrastructure and use less electricity. Find out Five Challenges of Digital Transformation in Manufacturing.
Digital transformation and energy transition are closely intertwined, and businesses must use digitalization to navigate this shift effectively. Power-intensive businesses, in particular, can make the biggest impact by investing in digital strategies that help them manage their energy sources, reduce their carbon footprint, and create new revenue streams.
Watch this interview to learn about the biggest takeaways from Eaton’s recent research, the importance of looking at these topics together, and how Eaton is working with customers to accelerate digital transformation. Aravind also shares his favorite debates in the industry and how Eaton supports innovation within the company. Tune in and join the conversation using the hashtag #IIoTWorld.