E.ON – the German electric utility heavyweight – has tackled the insights disconnect so successfully that their story was shared twice at industry events in Berlin and Amsterdam.
E.ON first presented their Market Logic success story about their insight platform, the “Insights Library,” at the Berlin Insights Executive Roundtable in June. Dr Kristina Rodig, Head of Customer and Market Insights, explained that her CMI team is a central group that works to close the knowledge gap and help E.ON actively leverage insights for business decisions.
Before the Insights Library, Dr Rodig’s team was faced with a conundrum: although data is important, it is only useful if people know what to do with it. She and her team decided to help E.ON make better, insight-driven decisions through a three-pronged approach:
- By turning data across the business into actionable insights,
- By bringing first-hand customer knowledge into the organization, and
- By providing unexpected answers analyzing customer and market data
One of the key deliverables to achieve their mission is the Insights Library, a global technology platform to find and share insights across borders and promote customer-centricity for epic brand building.
Thanks to the Insights Library, Kristina said speed to insights is immediate. “E.ON saves 6.3 hours per person per business question, with efficiency gains of up to 23 million Euros per year”. The Insights Library is now embedded across the business and is the common knowledge hub across all regions and markets. It is extending to new functions, sharing knowledge across all stakeholders and lines of business. And it supports the future by enabling the quick onboarding of new stakeholders and additional sources and insights.
E.ON’s story was told a second time at MRMW Europe, where Philippe de Loë, Global Customer & Market Insight, provided a strategic overview and learnings on the Insights Library. He also shared the outlook for the Insights Library, where the next step will be to integrated business reporting, to democratize data by consolidating structured and unstructured sources on one platform, so managers can see what is happening – as well as why. The next phase also includes news for the market and competitive intelligence, providing self-service, AI-powered intelligence to deliver relevant industry news without the noise.