Reliable and unbiased information reduce the risk of decision making
Transformers Magazine recently conducted industry-wide research with more than 50 important questions about technology and business development.
Image source: Transformers Magazine
When making strategic decisions, two things are important:
- minimizing risks for the company by making decisions based on reliable and unbiased information and
- minimizing risks for decision makers by having an independent set of information that supports these decisions
Transformers Magazine recently conducted industry-wide research with more than 50 important questions about technology and business development. The results of this research are presented in the Transformers Magazine’s Industry Navigator Report, which provides the most accurate, unbiased insights to corporate management and management responsible for technology and market development.
Here, we bring some intriguing information.
If you could choose between a transformer with lifetime of more than 50 years and the one with lifetime of less than 10 years, which would you prefer? You might expect that a vast majority of people would select the first one, but according to the report, almost an equal number of respondents have selected both of these options.
According to the same report, leasing transformers or subcontracting operation and maintenance will be the preferred option for 22.0 % of respondents.
Furthermore, only 4 % of respondents are not likely to choose new technologies, non-traditional materials and solutions when buying transformers or transformer components and accessories.
With the progress of DC sources (photovoltaics) and DC loads (EV charging, data centres, etc.), it is important to know whether DC grids are a realistic option in the future. According to the TM’s Industry Navigator Report, only 15 % of respondents think that DC grids are NOT a realistic option in the future.
With the increase of distributed power generation (wind power, photovoltaics, etc.), voltage stability in distribution grids becomes a challenge. According to the report, only 1 % of respondents think that voltage regulation is not necessary in distribution transformers.
Tools based on Artificial Intelligence are all around us. Transformers Magazine also reported about such tools for transformers. The question is how far we are ready to go with AI? According to the report, buying a transformer that processes data and controls cooling and voltage with the help of AI is not a likely decision for only 6 % of respondents.
Less than 5 % of respondents think that digitalisation is not a benefit, but ‘an additional problem’. This tells that digitalisation brings tangible benefits for a vast majority of people.
If you need a better insight into the topics important for strategic decision making, check out the TM’s Industry Navigator report and/or join us at the TM’s Industry Navigator conference where we will discuss more than 50 key strategic questions in more detail next week.
#distributed power generation#strategic decision making#TM's Industry Navigator conference#transformer