Data Analytics And Modelling Bring Insight Out Of Complexity For Utilities

German energy IT start up Venios was awarded the Initiate Start Up Award for innovation at European Utility Week.
Published: Thu 20 Nov 2014

Utilities need to adopt a proactive approach to their business in the energy transition, using the data that is available to them in new ways to gain insight to be more efficient and effective, and ultimately earn more money, believes Steffen Funck, member of the Management Board of cloud-based asset and grid management solution provider, Venios.

In an interview with Engerati at European Utility Week 2014, following Venios’ winning of the start up award – which comes with US$100,000 worth of Google Cloud Platform credits – Funck comments on what differentiates the company’s solution.

Data analytics and modelling

“The challenge is the very complex topologies [of the LV and MV systems], with a large number of mostly small participants, so we need spatial and time resolutions to see what is going on where and when. So there is a need to model the system, bringing in data from secondary sources, such as weather and socio-economic information on end-customers.”

Only server and cloud-based systems can deal with such large volumes of data simultaneously and so these are the way to go, Funck says.