“How will we use all the data from the smart grid?”
Producers, distributors and consumers of electricity in nearly all developed countries are asking themselves that question. The stream of data generated by smart meters, networked devices, power generators, hydroelectric dams, solar farms, and increasingly sophisticated consumers has the potential to greatly improve the reliability of power generation, management, storage and distribution.
Advanced analytics can help realize all that potential. But how? It plays an important role in utilities seeking to turn data into money by analyzing their accumulated information to improve demand-side management, asset and personnel allocation, demand forecasting, and predictive and preventive maintenance. In fact, analytics is fueling this industry transformation.