How big data will drive a more flexible energy grid
Data is continuously developing and progressing throughout many different industries – if not, all. Intelligent energy use is becoming more and more essential for businesses looking to develop within their particular sector. Controlling your energy consumption in real-time is a great way of utilising smart technology and data.
Flexibility is the key to delivering a Net Zero economy, and, ensuring a greener future. That is why it is essential that we use the tools available to us. And harnessing big data could help to achieve this goal.
So, what is ‘big data’ and how could it impact the energy industry?
What does ‘big data’ mean?
The term ‘big data’ was coined in 2005 to refer to large bodies of data that are almost impossible to manage and process using traditional business intelligence tools. The energy industry has worked with big data for years. But the technology used to contain and understand that data is developing rapidly.
Big data gives energy manufacturers the opportunity to understand the risk profiles of their portfolios and other possibilities, resulting in more strategic decisions.
The energy industry has worked with big data for years and regularly processes significant amounts of information. Companies can either choose to make use of Big Data within their infrastructure, or they can choose to use Big Data in the cloud – with the cloud provider taking care of the entire infrastructure. Whichever way businesses choose to integrate big data, the benefits are evident.
How can it benefit?
Big data can be seen in various guises. In the energy sector it comes in many different forms, and data plays a major role in the production process as well as, analysing consumption, to better understand consumer behaviour. Big data can also assist with monitoring weather conditions or tracking, geographical locations. This is expected to play a crucial role in the development of smart-grids – enabling a more sustainable future for the industry.
Big data insights will enable;
- The development of energy forecasting which will boost renewable energy powered networks.
- Innovation, resulting in solutions that will reduce energy costs whilst accelerating the transition to low-carbon renewable energy.
- Accelerating businesses, and ultimately countries, with their route towards a Net Zero future.
Data is continuing to expand rapidly with the introduction of smart meters. Smart technology will help businesses to not only better understand their data, but also to understand their business as a whole. Others sectors are using big data very effectively to manage their inventory and forecast demand – which in turn will improve supply chain management.
Where does t-mac come in?
Understanding your data and how best to utilise it can be confusing. But the benefits, in both the long and short-term, makes it entirely worth it.
This level of comprehensive support, along with our pioneering technology, is what sets t-mac apart. We provide our clients with the help they need from start to finish providing a data-driven sustainable strategy for the future.
To learn more about t-mac’s next generation energy solutions, contact us today.