Big data analytics has already taken root in the energy industry. This blog describes how exactly big data analytics can drive value in the electric power sector. Based on the experience gained from our cooperation with electric utilities, I will show you three practical examples of how big data analytics augments the energy industry. Use Cases of The Way Big Data Analytics Makes the Energy Industry Smart Fault Detection and Predictive Maintenance It is common knowledge that equipment failures in the energy industry can result in catastrophic power outages and large quantities of money spent on new assets, restoration work, and energy losses. A power outage can bring an entire country to a halt, as the Northeast blackout of 2013 did in the United States, affecting nearly 45 million people. Unfavorable weather is one of the leading causes of power disruptions. Nonetheless, electric and utilities custom software development firms are developing smarter infrastructure and sensors to improve predictability and avoid such outages. Electric Power QualityElectric power quality influences the safe operation of a power grid and consumers’ satisfaction. Fortunately, big data software goes far beyond detecting disturbances a posteriori. For example, we at data analytics dashboard development company offer our customers to implement continuous power quality monitoring to create “an early warning system” empowered with deep learning and pattern recognition algorithms. With this system, you can analyze all the information related to power quality, and detect and classify deviations from the norm appearing in power grids quickly and accurately. Once the deviation is classified, it is possible to determine its causes and take measures to prevent it, avoiding downtimes and production losses. Energy PreservationEnergy is an asset that is not going to last forever. Many advancements in technology have given way to additional, renewable, and reusable energy resources, but still, there is a big need to preserve the limited energy we have. Big Data can be utilized to better preserve the vital energy resources. This is a global issue, and few countries are not self-sufficient in producing energy. So analytics is been applied by various international governments to find different effective ways to preserve energy as well as invent new ways to produce. Big Data and Cheaper Energy Combining Big Data and data analytics with low-cost energy solutions, according to CitiBank, might eventually lead to free energy. Utilities can provide cheaper power by better matching energy supply and demand. But this is just the beginning. The idea behind free energy is to allow users to store surplus energy and then sell it back to the grid, basically recycling energy. Another custom software development technology to anticipate is virtual power stations. The technology connects energy storage devices and controls them from a single, digital place. Although free energy is still a long way off, one thing is certain. The price of power generation and consumption is being driven down through Big Data analytics! Customer Experience & More Engagement An information-driven and customer-centric business is no longer an option for energy companies, it is a business imperative. Rapid technology shifts, government policy changes, and empowered customers are primary drivers for the new approach to Customer Engagement. With the use of analytics, energy companies can make the shift to engage with customers in highly personalized environments which can increase customer satisfaction, promote new products and lower the service cost. Conclusion
Many electric utility companies have already started implementing big data analysis because of the benefits that predictive maintenance, power quality monitoring, and load control are capable of bringing to the energy software development company in Toronto. The usage cases that were listed in this article are not all-inclusive.
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