Why do we see a growing need in data science? What has changed in the last several years?
With the rollout of smart meters and other IP-enabled devices, the energy sector is experiencing a flood of data. Keeping pace with this data flood, let alone extracting value out it is a serious challenge for utilities and energy service companies (ESCOs).
How big is this data flood? Let’s do a simple calculation.
Let’s look at a medium sized utility with 2 million households collecting electric, gas and solar (back delivery) data. Data collection is currently occurring about once per month, resulting in approximately 20 million meter reads. Now with smart meter penetration goals of 75% or greater by 2020, the number of reads is about to grow. Substantially.
Traditional methods of storing and processing are not suitable for these data volumes and often fail as a result. Energyworx partners with the leading cloud providers to ensure capacity is never an issue, and we use cloud features such as resource pooling and rapid elasticity to provide the most efficient and cost effective data management for your business. Check out our Case Study for the Google Cloud to read how this cloud partnership works in practice and how the cost savings are passed down to the client.
Now that we can handle this data flood, how do we get value from it?
We provide you with actionable insights through comprehensive analytics that correlate data from the enterprise and external sources. By taking energy data sets, weather, consumer profiles, renewable energy generation and more into account, we gain greater understanding of your company needs, allowing us to customize use cases to address your most critical challenges. Readthis blog for a closer look into the anatomy of data science.
In order to understand our clients’ most pressing needs, we organize customized workshops. During these workshops, we take a closer look into the available data sets and system requirements. We use the available data sets to create a unique value proposition for your company. Due to extensive ICT and energy business experience, we can design and advise on what’s most relevant, whether you are a grid operator, energy retailer, utility or other related energy company.
What kind of value do we create from data analytics?
Upcoming blogs will focus on creating value from data, empowered with best practices for meter data management, social energy and energy management.