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The energy and utility sector is facing unprecedented challenges. Surging energy demands are taxing the inefficient U.S. power grid, which is in dire need of modernization. At the same time, providers are actively trying to reduce their carbon footprints and improve sustainability efforts. Making matters more complicated, customers have more choices than ever before, thanks to energy deregulation and the rise of alternative energy sources.
Add it all up, and providers that fail to keep up with evolving customer demands risk losing business and being displaced by competitors.
To overcome these challenges, energy, and utility companies are accelerating their data collection efforts. Recent advancements in smart meter and smart grid programs — enabled by the ever-growing internet of things (IoT) — make it possible to extract massive volumes of data and streamline operations. In turn, the relatively slow-moving industry is becoming increasingly data-driven and digitized.
But collecting data is only half the battle. Providers also need to process, analyze, and visualize all of that data to turn raw insights into actionable analytics.
However, energy and utility companies often struggle at the next step: transforming their data into something meaningful to power their analytics. IoT, sensor, and other captured data are typically in varying formats and are dirty, extremely raw, and offers little to no context. Gaining value from this data is difficult.
This is where Datameer can help in a major way.
Datameer is a powerful SaaS data transformation platform that runs in Snowflake – your modern, scalable cloud data warehouse – that combines to provide a highly scalable and flexible environment to transform your data into meaningful analytics. With Datameer, you can
Here are some ways that Datameer helps energy and utility providers unlock more efficiencies and build more effective operations today.
Energy companies are always looking to boost profitability. But with regulators setting prices, profits are closely tied to expenses.
To reduce expenses, energy, and utility, providers first need to understand how much it costs to serve an average customer. This requires timely and accurate data that encompasses numerous factors, such as operations and maintenance, power generation and fuel costs, demand, energy intensity, and pass-through fees, among other things.
A growing number of utility companies are streamlining expense management using the cloud. To this end, Datameer helps organizations migrate their workloads to the cloud and easily transform their data directly in the most popular and flexible cloud data warehouse – Snowflake – and create specific data sets based on the information they’re collecting for rapid processing and analysis. This enables them to identify areas where expenses can be reduced — which can help them become more profitable.
In the past, utility companies struggled with intermittent renewable energy systems and, therefore, not continuously available for electricity conversion. Now, companies are using IoT sensors and cloud-based software to forecast energy demand and strategically integrate renewable assets into power grids.
Datameer facilitates easy data transformation of complex, diverse datasets into consumable analytics form inside of Snowflake for the insights they need to make accurate and reliable forecasting decisions, allowing them to use more renewable energy — and, in effect, lower their carbon emissions.
Also, Datameer helps providers track and monitor peak energy times for energy demand management programs.
Tasks like site selection and power generation planning can be both challenging and risky for energy companies. For example, when planning new facilities to generate electricity, providers need to decide whether to build plants that burn fossil fuels or facilities that leverage more expensive renewables. Providers also need to forecast long-term projections when determining where to build facilities (e.g., population trends).
Datameer provides the foundation for data science teams to build data transformation models that can predict future scenarios accurately and help with complex planning decisions. Datameer offers powerful virtual modeling functions backed by machine learning and point-and-click tools that make strategic planning easier.
Utility companies have many assets that need to be tracked and monitored daily for performance, safety, and reliability. Without real-time visibility, it’s effortless to lose control of these assets, leading to greater risks and inefficiencies.
By easily combining diverse datasets, Datameer provides a common set of data transformation models where assets can be indexed and mined for data. This data can then optimize everything from windmills and solar grids to smart meters and even utility vehicles.
Data sharing is essential in a utility environment where companies need to balance customer and shareholder demands. Information needs to be extracted and presented in a way that is easy to visualize and understand so that stakeholders can make the best decisions.
Datameer facilitates data sharing, along with Snowflake, by allowing easy data transformation into Snowflake “secure views” that can then be used with Snowflake’s unique data sharing services. The intuitive collaboration features allow analysts and data scientists to share and reuse data models without the need to move it. As a result, knowledge transfer improves across the organization, and the utility company can make better decisions.