Electricity Asset Management Plan 2019-2029
226
Vector Limited://
PROPOSED INVESTMENT SUMMARY ($MILLION NOMINAL)
DESCRIPTION
FY20
FY21
FY22
FY23
FY24
FY25
FY26
FY27
FY28
FY29 TOTAL
Customer Operations
1.10
1.00
1.66
0.72
0.38
0.75
0.65
0.62
0.85
0.89
8.62
Total CAPEX
1.10
1.00
1.66
0.72
0.38
0.75
0.65
0.62
0.85
0.89
8.62
5.4 OTHER INFORMATION SYSTEM, PROCESS AND DATA INVESTMENTS
DATA MANAGEMENT & UTILISATION
NEEDS STATEMENT The increasing volume of data that is being generated and captured across the entire network requires a significant re- think of how we capture, where we store, how we ensure data security and privacy, and how we best utilise and generate insights from this information. Today, there is a collection of legacy data storage and analytics platforms, with varied levels of maturity, development and maintenance across these platforms. This results in significant amounts of time required to compile and consolidate data from multiple different source systems, while also reducing the consistency and efficacy of the data that we have available. A further complication is the fact that the master data kept in these source systems is maintained and controlled in different functional business areas, for example employee master data in HR, financial records in Finance, Health and Safety in HSE etc, and as such have different levels of access, management and oversight. The investment in data management is targeted at resolving this, through the implementation of a big data and analytics platform known as the ‘Data Lake’. This platform will provide a single source of data to be served into any channel, and will significantly improve our ability to combine data from multiple different sources and present accurate and relevant insights from the data. For example, utilising asset performance data and weather data, we can create enhanced predictive models of where assets may fail and how we can better target our investments to increase resilience across the network. Machine Learning and advanced algorithms will enable us to improve our forecasting and modelling capability, and provide for improved transparency and prediction of the impact of changes to the network. This will further enable real time integration of customer facing channels and enablement of predictive and pro-active notifications of events, improving the customer experience for all Aucklanders. The investment in data utilisation through development of dashboards and business intelligence, where relevant and timely information and analytics can be served to end users to improve decision making will increase our ability to meet changing Network demands and customer expectations. Today, the utilisation of insights is heavily dependent on specialist tools and techniques to gather and analyse the data, to enable Vector to better react to this changing environment, insight needs to be available to end user’s through self-service access to relevant data, enabling improved decision making and reducing the time and friction required for business stakeholder’s and customers to access the information they require.
TARGETED OUTCOMES
CUSTOMER EXPERIENCE
SAFETY
RELIABILITY
RESILIENCE
OPERATIONAL EFFICIENCY
CYBER SECURITY AND PRIVACY
OPTIONS CONSIDERED Options to address the need identified above have been assessed and are summarised in the following table.
DESCRIPTION
DISCUSSION OF OPTION
ESTIMATED COST (NPV IF APPLICABLE)
STATUS
Option 1: Business as usual – no additional investment
Vector will continue to utilise data and analytics in a structured fashion, however will not have capacity to develop advanced, predictive and pro-active analytics capabilities, or enhance self-service for end users of insights. This will directly impact our ability to optimise response in significant and BAU events, reduce the capability the organisation must make data driven
Rejected
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