Research and Development for Modeling the Perceived Value of Energy Consumers - NB-001

Preferred Disciplines: Post-Doc and Masters with Business, Management, Applied Economics, Data Science, Marketing or Engineering background
Company: Siemen’s and NB Power
Project Length: 1 year
Desired start date: September 2017
Location: Fredericton, NB
No. of Positions: 1 PDF (1 year)/ 4 Masters (4 months)
Preferences: N/A

About the Company: 

Siemen’s and NB Power

Project Description:

The Perceived Value of Energy Consumers Project is a novel area of study which should help to better understand the energy consumers and the perceived value they place on different services and products. By identifying, understanding potential new products and services the related business models can be developed. Various dependencies between product/service offerings and customer segment can be displayed, analyzed and measured through key performance indicators (KPIs) to determine the customer perceived values, such as customer satisfaction and customer retention. The increased understanding of the perceived value and the customer segments can result in new innovative and tailor-made products and service.

Research Objectives:

    The perceived value project aims to identify the perceived needs of the different energy market segments and determine the various clusters in the commercial and residential energy market. 

    Furthermore, based on an understanding of the market segments, the project aims to identify business model innovations associated with the perceived needs of the different energy market segments. 

    In addition, the project aims to provide insights on sustainable business model innovations relevant to the industry partners’ short- to medium-term needs.

    Moreover, the project aims to identify the key performance indicators of the business model innovations relevant to the energy sector, thereby drawing out a universal framework for utilities to associate customer segment needs with business model innovations in the energy sector.  

    Phase 1 Objectives-Development of Segment- Build the research model that classifies the various customer segments and profiles in the energy sector. This phase set the groundwork to frame the project and its expectations.  This phases is being completed in close collaboration with Siemens Canada and NB Power.

    Phase II Objective- Modeling of Segment- Based on the perceived value of energy consumers identify business model innovations and their key performance indicators in the energy sector.  This phase of the study analyzes the value the different consumers put on the different products and services. The Perceived Value is modeled and the current status of the industry is mapped and developed. A close collaboration is being undertaken with Siemens Canada and NB Power is in this phase too.

    Phase III Objective Model Integration: Develop an integrative model by using the segmented models to understand the overall system.
     

    Methodology:

    Mixed method design

    • Cluster analysis, applied econometrics, data mining and artificial neural network, market research, qualitative data analysis, academic writing
    • Systematic literature review, quantitative data analysis with a focus on cluster analysis, artificial  neural networks and  survey design
    • Quantitative econometric analysis and extensive descriptive statistical analyses
    • Thematic qualitative data analysis of semi structured in-depth interviews with utilities and heavy energy consumers

    Expertise and Skills Needed:

      • Completed PhD/MSc/MBA in a relevant field (Business, Management, Applied Economics, Data Science, Innovation, Marketing or Engineering) within last two years is an asset
      • Experience of working with industry
      • Strong quantitative analytical and empirical skills
      • Strong preference is given to those with an engineering background

      For more info or to apply to this applied research position, please

      1. Check your eligibility and find more information about open projects.
      2. Complete this webform. You will be asked to upload your CV. Remember to indicate the title of the project(s) you are interested in and obtain your professor’s approval to proceed!
      3. If interested in this position, please get the approval from your supervisor and forward your CV to Niraj Shukla at nshukla(a)mitacs.ca
      Program: