Recently, at CeBIT 2015, management consulting & technology services giant Accenture plc ACN and enterprise application software company SAP SE SAP were selected by energy delivery company CenterPoint Energy, Inc. CNP for developing a unique asset analytics solution.
Integrating information technology (IT) with operational technology (OT), the new solution will merge business data, sensor data and external data feeds, and will be compatible with the SAP HANA Cloud Platform.
Accenture will be responsible for providing asset analytics guidance, testing, managing and systems integration services, given its profound experience in the utilities domain. CenterPoint management believes that Accenture and SAP’s concerted efforts will ultimately drive dual benefits of boosting operational efficacy and trimming operating costs for the company. Both firms’ industry knowledge and expertise in transmission and distribution services made them a perfect fit for CenterPoint’s strategy of integrating IT and OT platforms.
Developing an integration solution system to leverage the industrial Internet of Things (IoT) revolution marks a prudent decision on the part of CenterPoint.
The Internet of Things
Internet of Things is a phrase that is being thrown about a lot lately. What does that mean? Some point to a specific network, or a sector that has the ability to give users large amounts of information on a specialized topic. In other words, it’s a computing concept that has the capability to transfer data over a network without needing human-to-human or human-to-computer interaction.
The Internet of Things market has grown on the back of cloud storage and increasing interconnectedness of things. IDC expects the market to grow at a CAGR of 7.9% from 2013 to 2020.
The IoT has created complex and large data for organizations, ranging from enterprise and operational activities to customer-oriented and asset-specific data, which calls for advanced statistical tools to spot hidden trends. The company expects to bring about some major improvement in its transmission and distribution network with the help of Accenture and SAP.
Our Take on Accenture’s IoT Drive
We believe that Accenture’s contribution toward the development of IoT has been significant. According to the company, Industrial IoT is expected to add $14.2 trillion to the global economy by 2030.
Currently, Accenture and SAP’s collaboration for developing IT-OT integration solutions is not only limited to energy delivery companies but also extends to asset-oriented industries.
Considering the growing need for IoT marketing, we expect Accenture’s investment in this segment to boost its long-term growth. This will also help the company to effectively compete with Google GOOGL and Amazon AMZN that have evolved as specialized players.
Accenture recently closed the acquisition of analytics services and solutions provider, Gapso. Located in Brazil, Gapso focuses on analytical planning systems to solve complex logistics and manufacturing challenges. Following the acquisition, Accenture will now be able to strengthen its position as a leading provider of analytics solutions.
Currently, Accenture carries a Zacks Rank #3 (Hold).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.