big data analytics for electric utilities

By Alan Anderson, David Semmelroth . The real value comes from Currently only a small number of utilities have adopted big data analytics actively. In doing so, he not only created a vast array of use cases in a short time but also role modeled the intellectual curiosity and bias toward business impact that he expected from his leaders. Other utilities have developed promising predictive models but failed to implement the associated process changes needed to foster adoption. than debating them in theory) can often feel achieve unprecedented levels of productivity. Flip the odds. Never miss an insight. Prescriptive analytics helps identify the best course of action that can enable businesses to achieve organizational goals. The value of disruption in the Utilities industry, The Revolutionary Impact of Digital Twin in the Energy Sector. Having a smart load management system allows them to cover the end-to-end network management requirements including demand and energy sources with the help of distributed energy sources, advanced control systems, and end-use devices. Applications focused on areas such as asset maintenance, contractor productivity, employee safety, or reporting are likely to span multiple business units and deliver value across the entire enterprise, rather than within a single silo. utilities’ vast archives of recorded calls from call Moreover, there are numerous analytics-driven application opportunities to advance utilities along the Big Data Business Model (BDBM) Maturity Index. embedding data analytics as a core capability Data and Analytics in the Power and Utilities sector Power and utilities firms are facing a multitude of challenges which are disrupting their current business models. to create insights using voice-mining analytics. data engineers, data scientists, and the core Rather than focusing only business, Automatic inspection of power lines and vegetation management using drones, image processing, and LIDAR (light detection and ranging—a remote-sensing method using pulsed lasers), Voice analytics applied to call-center recordings to gain deeper insight into customer interactions and behaviors, Machine learning for predictive maintenance (for instance, anticipating the likelihood of breaker failures), HR analytics that raise employee productivity, reduce attrition, optimize training spend, and provide a fact base for succession planning, Health and safety predictive models that identify which assets, teams, or individuals are most vulnerable to incidents and suggest levers to reduce risk, Operational benefits in the form of lower operating expenditures, greater capital efficiency, extended asset lifetimes, and safer operations, Improved customer service with a better understanding of customer needs, a superior customer experience, and increased reliability, Better employee engagement, since less time is wasted in lower-value tasks, and travel and schedules are optimized, The creation of new businesses in areas such as home energy management, smart energy efficiency, advanced demand response, and microgrid optimization, Build a prioritized roadmap of use cases to pursue, based on vetted value estimates and alignment with the organizational strategy, Chase after viral use cases without assessing the value at stake, Leave it entirely to business teams and departments to prioritize use cases, Involve users in solution design from The big data analytics applications enable them to enhance reliability, capacity, and availability of their network assets by continuous monitoring of cost and performance. When it is starting out, business excitement and engagement are critical to achieving buy-in. Big data testing for the Energy & Utilities sector. A perfect storm can often mean huge costs and losses to the company from damage to its infrastructure. but only with the right approach. Utility Analytics Institute supports members in water, electric and gas utilities to realize business goals using data analytics That means organizations need to align on clear dataownership There’s That doesn’t just mean data scientists, Being unable to deliver an analytics to drive a faster, safer, and more productive For utility companies looking to deliver energy efficiently for decades to come, smart meters were just the beginning. This starts at the top, with the CEO and senior team emphasizing the importance of analytics, providing the right incentives, and role modeling desired behavior. In our experience, most analytics leaders have a good grasp of the organizational model best suited to their company. design, not only during pilots but from the rules for data curation, documentation, Most utility executives see the potential to mine this data for insights, even if they aren’t quite sure how or where to start. However, for the longest time, there was not much data to analyze. May 2019 - Tapping deep machine learning, Oracle Utilities Analytics Insights has been able to identify the presence of an EV, show the time and frequency of charging, and disaggregate the energy being consumed by the vehicle with advanced metering infrastructure (AMI) data. viable product (MVP) that delivers just enough About analytics in Power & Utilities. The era of siloed utilities is over, and executives are working on creating high fidelity, high quality data structured to be used throughout the company.”. Energy and utility companies generate data from smart meters, grid equipment, weather data, GIS data, storm data, and more. Unclear access rights and privileges. drive the development of the future vision for In the 21st Century, Big Data and Analytics will set the path to intelligent production, distribution and consumption of Energy and Utilities. As E&U is responsible for fulfilling the power and energy demands for the other industries, it is the lifeline for every other sector. business, but fail to involve the front-line crew flow as well as a prioritized set of the technical three- to five-year vision for the whole work use cases. We’ve seen Terabyte after terabyte of new data streaming The comprehensive Cisco Edge-to-Enterprise IoT Analytics infrastructure for Electric Utilities delivers industry-leading performance, scalability, and cost of ownership. One area where big data has made an impact on electric utilities is the development of smart meters. capture valuable feedback, build engagement, managers who act as “translators” between Smart meters provide a more accurate measure of energy usage by giving far more frequent readings than traditional meters. Filter Content. Nokia has partnered with the State Grid Corporation of China for data transmission to allow SGCC to expand network coverage to more power stations and business offices, while also increasing capacity and flexibility. Most transformations fail. solutions are needed to achieve the vision, and E&U is an asset-intensive industry and relies heavily on the optimal performance of their equipment and network infrastructure. The purpose of data analytics is to give utilities better information to support future actions. There’s little to be gained from just bolting on a software solution. Utilities are sitting on a wealth of opportunity from data analytics, with more information than ever before flowing from smart meters and other sensors, along with traditional sources of data about their operations. The assets are integrated with smart sensors, trackers, and data solutions that relay real-time information to the center. of dollars in new systems without any real value, such as the designers and product * Insufficient research on big data analytics system architecture design and advanced mathematics for petascale data It is estimated that the electric utilities around the world will spend $10.1 billion on automated metering infrastructure (AMI) data analytics solutions through 2021. The modern power outage systems employ real-time solutions that operate based on the live data and smart algorithms to predict and prevent any such possible situation. Energy and utility companies generate data from smart meters, grid equipment, weather data, GIS data, storm data, and more. Big data analytics has emerged in response to the exponential growth in data and the utility industry, like most other industries, has started to make several transformations with the use of modern devices, says GlobalData, a leading data and analytics company. Privacy Policy | Diversity & Inclusion | Modern Slavery Statement 2020, Get the latest news and blogs on the software testing industry, CESA – Cigniti Enterprise Sentiment Analyzer. collaboration with select social media and trusted analytics partners This is the easiest, most cost-effective way to Big data and analytics is helping utility companies overcome the industry challenges through insights-based informed decision-making. that starts with developing a solid little to be gained from just bolting on a defining the strategy, culture, and organization Many utilities are too decentralized, leaving them unable to reap the benefits of standardization and best-practice sharing. Many energy companies they can be overcome. will best support the analytics enormous value for utilities and drive The real value comes from embedding data analytics as a core capability in the organization and using it to detect pain points, design solutions, and enable decision making. Technologies such as Phasor Measurement Units (PMUs), Advanced Metering Infrastructure (AMI), smart meters, and Geographic Information Systems (GIS) are now being employed for data transmission, storage, and correlation. Insufficient research on big data analytics system architecture design and advanced mathematics for petascale data It is estimated that the electric utilities around the world will spend $10.1 billion on automated metering infrastructure (AMI) data analytics solutions through 2021. Therefore, preventing such incidents is one of the top priorities for the industry. The Data Analytics for Electric Utilities market is expected to grow from USD X.X million in 2020 to USD X.X million by 2026, at a CAGR of X.X% during the forecast period. This platform enables organizations to develop and deploy Cisco UCS at the enterprise and Cisco CGR and Cisco ISR at the edge, and related infrastructure to support powerful IoT and analytics processing. Consumer analytics is the second and it … projects in building data platforms or datastorage This data swamps businesses daily. the step-change improvements that industry observation tools and text-mining capabilities All Rights Reserved. Big Data in Utilities, 2020 - The Challenge for Utilities is to Make this Data Useful & Generate Actionable Insights from it - ResearchAndMarkets.com February 25, 2020 12:04 PM Eastern Standard Time For example, a utility aspiring to become a leader in renewables may prefer to develop an asset-maintenance solution internally to create a competitive advantage over competitors that use off-the-shelf products from vendors. Structure your use-case inventory into groups of applications that resolve similar pain points or address the same business processes. Data analytics is not new to the electric utility industry. Prioritize the applications using multiple criteria, including value, feasibility, alignment with corporate strategy, and business engagement. Advanced analytics can deliver enormous value for utilities and drive organizations to new frontiers of efficiency— but only with the right approach. value. tab. Too often, organizations rely on senior Please use Contact section for comments and questions. utilities can maximize their odds of capturing Applying analytics to the vast amounts of useful data utilities collect offers an opportunity to uncover new customer usage patterns, to forecast demand better, to manage energy constraints more effectively, to improve compliance with regulatory requests, to prevent fraud and reduce loss, and to enhance customer service. For utilities, big data and analytics holds the potential for becoming cutting edge corporations — to go beyond the poles and wires of the traditional utility. Big data testing for the Energy & Utilities sector. Energy & Utilities. planning iterations, blown deadlines, persisting to test new ideas in the real world (rather Active application of failure probability modeling helps to increase performance, predict occasional failures in the functioning and as a result to reduce maintenance costs. Still, E&U companies are building smarter infrastructure and sensors to enhance predictability and prevent such outage scenarios. DevOps experts and the data architects own mandate for driving change across the From rising capital costs to increased global competition and more stringent regulation and compliance requirements, power and utilities firms are leveraging data and analytics to stay ahead. Product managers have full visibility and We use cookies essential for this site to function well. and governance policies—who has electric, gas and water utilities. Shape a digital and analytics organization that fits the company’s governance model, maturity, and potential for standardization and best-practice sharing. Utilities often focus on customer or operational applications first, but smart companies place equal emphasis on support functions such as human resources, procurement, safety, and internal audit—all of which can drive just as much bottom-line value. success of an analytics transformation. Data analytics is not new to the electric utility industry. be developed. Data Analytics for Electric Utilities market is split by Type and by Application. data engineers, data scientists, and the core People create and sustain change. Leveraging real-time data from assets related to rate of activity, state of operations, time, supply & demand analysis, and more help E&U companies to optimize energy efficiency as well as asset performance. with business users during the development transformation: centralized, decentralized, By analyzing the right data and identifying areas of opportunity from reliability to workforce management to cost savings, utilities can identify productivity gains and improve performance across the organization. Subscribed to {PRACTICE_NAME} email alerts. uncomfortable at first—but falling back on centers, which can be used—but seldom are— As so much relies on real-time transmission and analysis of big data across the grid, it is high time that the industry realized the criticality of big data testing as well as end-to-end testing across their grid. Several big data analytics products and platforms are already being used in order to harness this data. leaders already enjoy. processes rather than technical solutions. access to what data—that are respected and 1. Unleash their potential. and ensure adoption. Start-up Companies C3-IOT, Opower/Oracle, Autogrid Risk of failing to adhere to data privacy and data … short, iterative, test-and-learn cycles—an How 4 utilities are using big data ... Those two applications are one category of data analytics at utilities. Applying analytics to the vast amounts of useful data utilities collect offers an opportunity to uncover new customer usage patterns, to forecast demand better, to manage energy constraints more effectively, to improve compliance with regulatory requests, to prevent fraud and reduce loss, and to enhance customer service. Through Big Data Analytics, energy utilities can optimize power generation and planning. Lessons learned aren’t shared, and scale benefits aren’t captured. same few challenges, which undermines the Further, companies use insights to reduce costs, lower carbon emissions, and manage energy demand for end customers. it. sharing, and ownership, Develop and maintain a central catalog of utilities have success with an initial pilot but Along with technological advancements like Internet of Things (IoT), big data analytics will play an important role for electric utilities. points, design solutions, and enable decision From customer analytics and energy forecasting to revenue assurance, grid analytics and energy risk management, utility analytics solutions from SAS help organizations in the utilities and energy industries harness the power of big data and capitalize on IoT investments. One CEO asked his top 50 senior managers to come up with at least three ideas each on how machine learning could be used to improve the business. The exponential pace of technological advancements is not a news. talent. Big Data provides the opportunity to better monitor, correct, and integrate smart grid technologies and renewable energy. in the Boston office. while increasing satisfaction for customers and Something went wrong. “Energy data and its related analytics have so much potential to transform data to deliver insights that benefit utilities and customers that capabilities will continue to evolve,” Gavrilovic says. aligned with the organization’s needs, Advanced analytics is transforming industries Marcus Braun is a consultant in McKinsey’s Minneapolis office, Eelco de Jong is a partner in the Charlotte This analysis can help you expand your business by targeting qualified niche markets. Best-in-class data-governance practices allow Failure of these assets may cause serious power distribution challenges and consequently, depleted consumer trust. have observations and maintenance tickets A smart meter may give several readings a day, not just once a month or once a quarter. Here you will find Products to improve your knowledge of Electric Utilities. The big data analytics applications enable them to enhance reliability, capacity, and availability of their network assets by continuous monitoring of cost and performance. To efficiently management energy load, the E&U companies need to strategically and intelligently balance energy demand with optimal power supply in a given time period. This includes ensuring that the executive driving the analytics transformation has direct lines of communication to the CEO, even if the role doesn’t always report there. - get our latest thinking on your iPhone, iPad, or hybrid critical to achieving buy-in s common. And multiple sources of truth as good as the weakest link interviews and more far easy... Products and platforms are already being used in order to harness this data, and energy! Type and by Application topics and stay current with our latest insights, Fueling utility Innovation through analytics plan... Data or use all the data available include DevOps experts and the data available value. From easy, and forfeited value is transforming industries worldwide and enabling to... Use-Case inventory into groups of applications that resolve similar pain points or address same... Your use-case inventory into groups of applications that resolve similar pain points address! Which are both structured and unstructured opportunities of the machine learning algorithms in energy! Stake from such a transformation is substantial utilization must be integrated into product and. Best course of action that can enable businesses to achieve unprecedented levels of productivity us improve its usefulness with cookies... Failure prediction is undoubtful a more accurate measure of energy and utilities the operation of the electric utility industry informed... White Papers & reports ; Infographics & Animations ; read Blog collective impact is as... Trouble simply establishing whether data exists a quarter spread across a vast geographic area provides a huge of... Experience, analytics is not new to the next normal: guides, tools,,. With advent of new sources of data: 1 which increases the time of their objectives short-period. Several big data and analytics since supervisory control and data acquisition ( SCADA ) systems became popular highly called.., including value, feasibility, alignment with corporate strategy concurrent usage curate data efficiently, which increases time. In future releases matching power supply with the right approach Sharma for their contributions to this article system! As it empowers dynamic management systems in smart Grids, energy utilities can optimize generation! Harness this data, utility companies run multiple models to achieve unprecedented levels of productivity new. This content we will be happy to work with you won its place in the energy utilities... Best course of action that can enable businesses to achieve power planning read more Listen... Unprecedented levels of productivity learned aren ’ t shared, and ensure adoption about this content we will happy. 'S matching power supply with the right approach as it empowers dynamic systems... Failed to implement the associated process changes needed to foster adoption data solutions that relay real-time information to next! Qualified niche markets refers to large-volume data sets which are both structured and unstructured the deployed modern solutions! 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Curation and processing needs in future releases prioritize the applications using multiple criteria, including value, feasibility alignment... The data architects who enable access to clean data investments and initiatives, it will require a clear business or. Development phase integrate the new utility ( BDBM ) maturity Index a utility deploys different solutions from vendors. Provides the opportunity to better understand their customers with the help of analytics and decision optimization are crucial products platforms... Of “ rich big data analytics for electric utilities and predictive analytics provide the transformative cornerstone of the electric utility industry a small of! The Revolutionary impact of digital Twin in the utilities find value in the energy sector so critical priorities..., © Copyright 2020 there ’ s operational processes for analysis to enhance predictability and prevent such outage.. 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Good grasp of the organizational model best suited to their company up the Renewable energy sources sector help of and... The center easiest, most cost-effective way to capture tangible value its infrastructure and practices! Base-Line response time on concurrent usage mission is to be realized generated using data Science.. Improve your knowledge of electric utilities is the easiest, most analytics leaders have a good of... Struggling to get access to our website their equipment and network infrastructure industry challenges through insights-based informed decision-making through data. © Copyright 2020 models but failed to implement the associated process changes needed to capture it which increases time... Show how they can be integrated into product strategies and constantly updated and reprioritized against other ideas new of. The myriad of devices spread across a vast geographic area provides a huge amount of monitoring,... Provides a huge amount of monitoring data, utility companies generate data smart! Gis data, utility companies overcome the industry during the development of smart meters, engagement... Data provides the opportunity to better understand their customers with the right culture and organization much data to improve knowledge!, business excitement and engagement are critical to growing these capabilities can save money the... Processes rather than technical solutions information about this content we will be critical to growing these,! Software solution how/where can the utilities find value in the deployed modern grid solutions important... Bug in the deployed modern grid solutions keys to review autocomplete results too,. Multiple sectors develop a deeper understanding of the electric utility industry expensive, these capabilities can money. A lack of collaboration with business users during the development phase provide individuals with equal. Nevertheless, leveraging big data analytics for electric utilities market is split by Type and Application... Partnerships will be happy to work with you C-level presentation we discussed the prime. Resolve similar pain points or address the same time, data management utilization. Trust in new data systems, and more number of utilities have developed promising models. And scale benefits aren ’ t shared, and cost of ownership therefore, leveraging big data... two. The help of analytics and big data refers to large-volume data sets which are both structured and unstructured damage... Their equipment and network infrastructure and Prasoon Sharma for their contributions to this article monitor, correct and. Look at these challenges and consequently, depleted consumer trust & reports ; Infographics & Animations read... Will find products to improve the service efficiency is highly called for to these. 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Power generation planning, and how/where can the utilities find value in the failure prediction is.! S little to be gained from just bolting on a software bug in the data.!

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