UK water companies are being compared against each other by their regulator in order to assess performance. At a recent PR09 conference, the regulator has hinted that companies will be expected to improve efficiency by extracting more value from the data they collect and hold. The onus will be on water companies to undertake sound and robust analysis to show that their performance and efficiency are adequate. Benchmarking will therefore become an important part of the business.
The information publicly available tends to be aggregated at high level (June Return; OPA, Financial reports, etc) so is not very useful for in-depth comparison and potential improvement. A more detailed benchmarking tool would help companies to understand where they stand in comparison with their peers. This project is developing develop a web-based benchmarking tool to enable water companies to compare their performance at a detailed level.
Benefits to Clients
A detailed performance and financial benchmarking website will provide:
- Data consistency across sector.
- Detailed understanding of performance and associated spend inter and across companies.
- Tool to identify improvement, improve efficiency and highlight differences.
- Define the information available (quality, quantity and format) for benchmarking.
- Identify benchmarking level and, with agreement of the participants, select relevant indicators for each business area (financial indicators, KPIs, etc) to enable inter and cross-company comparison.
- Produce normalisation rules (for example by population) to enable accurate comparison between dataset.
- Aggregate dataset to enable validation against publicly available data.
- Validate data provided against the June return data.
- Host and maintain website and database.
A website providing detailed business benchmarking and comparison, allowing companies to:
- Enter data (password protected, anonymously)
- Review all data
- Compare datasets
- Analyse and compare trends