What are energy data analytics?
Energy data analytics uses statistical software, big data and machine learning techniques to help utility companies analyze all aspects of energy production and consumption. Users can predict demand, optimize production costs in real time, improve distribution, understand customer consumption patterns and predict future market behavior.
What are the business benefits of energy data analytics?
Both utility companies and their customers benefit from energy data analytics. By using data analytics software and energy dashboards, energy managers can monitor and reduce grid downtime, predict changes to fluctuating market demand in real time, balance assets and track environmental objectives. Meanwhile, energy consumers such as managers of office buildings and factories can use energy data analytics to identify areas for potential savings, adjust usage to strategy, and collaborate with site management on energy consumption issues. In all cases, energy data analytics helps users solve complex problems and to make better operational and financial business decisions.
