A July 2013 survey of 260 utility industry executives across the smart grid industry found that 29 percent of respondents consider power outage analysis the top electric utility challenge to be addressed by data analytics. In addition, nearly half (47 percent) of the survey’s participants do not think utilities are prepared to handle the “data explosion from smart grid technologies.”
The 2013 Utility Data Analytics Survey explores overall executive smart grid assessment on how big data is shaping the future grid and driving how utilities are processing smart meter data. While digitizing the smart grid continues to be an ambitious undertaking, the value of the data is expected to be realized sooner rather than later.
Larsh Johnson, eMeter co-founder and chief technology officer, says, “Analytics drive intelligent investments, higher customer satisfaction, and a more sustainable future. That’s worth more than dollars to today’s utility; it means staying relevant in a changing world.”
Zpryme chief executive officer and director of research Jason S. Rodriguez adds: “Based on the eMeter, A Siemens Business survey, almost a third of utility industry executive respondents cited ‘power outage analysis’ as the most critical pain point that data analytics can help resolve. Traditionally utilities collect one meter reading at a time. With smart meters, utilities will report and monitor customer usage information at an exponential rate. Data analytic solutions from companies such as eMeter have an important role in helping utilities around the world not only learn more about customer energy usage, but also bounce back more efficiently from blackout events such as Hurricane Sandy in the U.S. last year.”
Zpryme’s executive survey data also found 48 percent of executives believe that utilities’ distribution systems will benefit the most from data.
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