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Incorporation of advanced grid analytics enables utility firms to process sensor-generated data and streamline operations effectively.
FREMONT, CA: Massive transformations are happening in the utility sector. Innovations driven by the internet of things (IoT) is accounting for smart network devices as well as smart grids. Utilities can address the ever-evolving challenges of modern grids by implementing a comprehensive data analytics solution. Smart devices in utilities are generating a massive amount of data each day. It is essential to collect and process such data to enhance the efficiency of the electrical network and grids. Thus, smart grid analytics is the emerging field of application that will address the challenges related to the massive growth of data sets. Here are some of the potential applications of incorporating a smart grid analytics solution.
Predicting the Impact of Storms
Data analytics enables the tracking of the paths of storms largely. Further, utilities can predict the potential impact of storms on infrastructure as well as customers with the help of advanced analytics solutions. Analytics solution will need to utilize internal data as well as data obtained from third parties to serve the purpose.
Real-Time Monitoring
Traditionally, technicians used to read gauges at remote equipment once or twice a month. Thus, a serious condition such as a methane buildup in the transformer resulting from electrical disturbances and thermal decomposition could not be addressed immediately. However, modern sensors can extract real-time data and enable instant identification of an impending issue.
Customer Research and Analytics
Modern grid analytics are encouraging the development of services and products aimed at improving value to customers. Utilities are utilizing data available from the grids as well as devices present at the consumer edge to deliver better consumer experience. Further, improved computing capacity is also aiding the utilities to optimize and streamline their distribution channels.
Revenue Protection
According to a report, utilities across the globe lose around $89.3 billion each year due to customers who do not pay the bill or who illegally tamper with meters to avoid charges. Smart grid analytics can identify such threats and save billions for utility firms.
Utility firms are increasingly investing in smart grid analytics to optimize their operations and offer excellent customer experience.
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