In what ways can IHS Markit refine its Energy & Natural Resources data services to offer more granular insights on renewable energy sources?

Introduction

To refine IHS Markit's Energy & Natural Resources data services for more granular insights on renewable energy sources, we need to conduct a comprehensive analysis of user needs, market trends, and technological capabilities. I'll approach this challenge by examining key stakeholders, identifying pain points, generating innovative solutions, and proposing metrics to measure success.

Step 1

Clarifying Questions (5 mins)

• Looking at the current market trends, I'm seeing a rapid shift towards renewable energy. Could you help me understand how our current data services are positioned in terms of renewable energy coverage compared to traditional energy sources?

Why it matters: Determines the gap we need to fill and the potential market opportunity. Expected answer: Currently, renewable energy data is less comprehensive than traditional energy data. Impact on approach: Would focus on expanding renewable energy data collection and analysis capabilities.

• Considering the diverse range of renewable energy sources, I'm curious about which specific areas our users are most interested in. Can you share any insights on user demand for data on solar, wind, hydroelectric, or other renewable sources?

Why it matters: Helps prioritize which renewable energy sectors to focus on first. Expected answer: Solar and wind data are in highest demand, followed by hydroelectric and biomass. Impact on approach: Would prioritize improvements in solar and wind data services initially.

• Given the rapidly evolving nature of the renewable energy sector, I'm wondering about the frequency of our data updates. How often are we currently updating our renewable energy data, and how does this compare to user expectations?

Why it matters: Identifies potential gaps in data freshness and relevance. Expected answer: Current updates are monthly, but users are requesting more frequent updates. Impact on approach: Would explore ways to increase data update frequency and real-time capabilities.

• Considering the global nature of energy markets, I'm interested in understanding the geographical scope of our current renewable energy data. How comprehensive is our coverage across different regions, and where do users see the most significant gaps?

Why it matters: Helps identify areas for geographical expansion and improvement. Expected answer: Strong coverage in North America and Europe, but gaps in emerging markets. Impact on approach: Would focus on expanding data collection and analysis in underserved regions.