The use of data analytics can help utilities deliver cleaner, more reliable and affordable power to domestic customers.
That’s because they operate in a more efficient way, reducing costs and growing revenues, according to Tim Fairchild, Director of Global Energy Practice at data analytics company SAS.
Speaking to ELN at the SAS Energy Forum in London today, he said: “We can help utilities deliver power that’s cleaner, that’s more reliable, more dependable and more affordable. That’s really the benefit that the customer sees from their power company using analytics across business functions.”
However, he admits privacy and cybersecurity issues of data are among the big problems for utilities.
His comment comes as people are still worried about sharing their data through technologies such as smart meters even though he believes the information is very useful.
Mr Fairchild added: “That exponential increase in data is useful in some ways. One is to help understand the customer usage during the day, that helps you target programmes whether it’s energy efficiency programmes, marketing campaigns, demand response … that amount of data helps to be much more accurate also in forecasting.
“I think that the majority of people, once they see their gradual usage data and they see the benefits, they will be very supportive with smart meters.”