Leveraging advanced analytics to drive innovation
To intelligently reduce operational and capital expenses, natural gas transmission companies require better insight into the risks hidden in their business. Identifying these key pieces of intelligence needs to be delivered in a quick, timely manner to support the business.
Knowing risk informs decisions regarding repair, refurbishment and replacement, which in turn drives operational and capital budgeting.
National Grid currently owns and operates the national gas transmission network in the U.K. and four regional distribution networks. That vast system comprises hundreds of thousands of assets—compressors, pipes and valves--all of which vary in their likelihood of failure and consequences should they fail. Spreadsheets and manual processes are not sufficient to fully understand the complex sets of information needed to keep the system operating at peak efficiency and safety.
In this webinar, David Goldsby of National Grid and Steve Ehrlich of SpaceTime will describe how National Grid have introduced a new approach to Innovation through a ‘Lab’ environment. This innovation led approach is delivering rapid business benefits to the organization. They will focus on an example where they applied visual analytics to gain new insight into the risks lurking in the transmission system. That insight has driven new and innovative changes in how National Grid plans for and maintains the system.
Attendees will understand how they can gain similar results from applying new approaches to Innovation and specifically next-generation analytics to their utility assets for tasks ranging from planning the next day’s repairs to deciding the next decade’s investments.