18 Jun Can Data Drive A More Energy-Conscious Enterprise?
Technology is an important element in progress. See, we can always do something better. We can improve water technology, or energy efficiency. There is always progress forward using technology and that’s where innovation starts. – Santiago Calatrava
According to the National Institute of Standards and Technology the data gleaned from smart grids stands to generate energy cost savings of up to $2 trillion by 2030. This tells us that the future is going to belong to energy-efficient firms.
That said, it comes as no surprise that more businesses nowadays are investing in energy-efficient measures in their operations. Data monitoring and analytics are two of the ways through which firms can identify the core areas where they need to save energy and how can they proceed to put conscious plans into action. And it is not just limited to one niche. Energy consciousness is now omnipresent across various industries as companies are taking a step to use data for relevant use.
Using Sensors for Predictive Analysis and More – Sensor-enabled assets are now common in many industries, which have started adopting them to drive predictive analysis, for instance. There are several devices that contribute to smart offices and therefore, the focus is not just to get the data from the consumption of energy in their premises, but also to utilize it in an innovative manner.
Companies that are looking to reducing energy costs and consumption, make use of the data from these sensors. Data analytics can help them to target energy-inefficient areas. They can, then, work towards implementing various energy-saving initiatives. The catch here is to make sure that the data solutions need to be tailor-made to fit the end-goals of the firms.
With IoT gaining a strong foothold in the market and growing by leaps and bounds, it will only be a matter of time before it becomes the norm for companies to keep track of their energy consumptions through a network of connected entities.
Doing the Big Data Experiment – Big data tools can be used to generate innovative solutionsthat can help manage energy usage. They can be used to track, measure, analyze, and validatethe impact of both renewable energy solutions as well as other energy-efficient technologies. This can help in drawing out the relevant insights from the masses of data that is generated from the study of both large efficiency issues as well as small-scale issues.
By leveraging Big Data and Analytics, companies can get an idea of how they are doing on several crucial parameters. They can understand their water usage and electrical consumption or even get to know their global energy us and map their carbon footprints. Analytics will provide them handy information to add context and therefore, help them manage their energyusage more efficiently.
Applying Machine Learning for Optimal Decision-Making –Machine learning can play a mission-critical role in intelligently increasing the efficiency of the firm as well as in saving energy costs. It can reduce the production bottlenecks, proactively highlight points of failure, and help drive up the quality of initial production. Avoiding rework and reducing waste helps save scarce materials as well as optimizes the energy-usage across the production process.
This can be done by implementing automation in the smart meters that can track usage patterns and collect data that helps drive preventive maintenance. This data can also be used to determine the sources of energy leakages and therefore, fixing them at the earliest.
Solving Real-Time Problems – The data collected doesn’t just help enterprises in the long run. It alsohelps them in solving real-time problems. A case in point is that of HVAC (Heating, Ventilation and Air Conditioning) usage. The usage patterns can be analyzed to come up with more energy-efficient solutions for such critical devices and systems. This can include automating the turning on and switching off ofelectrical utilities based on an analysis of the population using specific locations in the facility, the weather at the time, and the prevailing safety regulations.
Modern enterprises are built on a backbone of solutions that are inherently energy-hungry. The good news is that technology can be brought to bear on changing that dependence too. Take for instance the modern data center. The energy needs of running the thousands of servers and disks, the cooling needs, and the water needed for meeting fire safety standards are some of the energy-guzzling components in the data center. But firms are turning to AI to make an impact on energy usage. AI is driving decisions about the servers to keep on and the disks to spin down. Energy is being regulated and cooling is being targeted better. All to reduce the energy wastage.
A flood of data is available for analysis because of the complex correlations between the various energy-consuming elements. The complexity is because without understanding those correlations half-baked and incomplete solutions may be rolled out that fail from the get-go.
Come, Be a Part of a Data-Driven World
If you too are aiming to turn your enterprise into an energy-conscious business, then this is a great time to start. You have the tools available, the innovation is taking root, and the need is here and now. The road to a better world could start from how your enterprise uses data to become more energy efficient!