What springs to mind when you hear the words energy data analytics? To me, I feel like energy data analytics is not my thing. Energy data analytics, however, is of great importance to any organization or business that wants to run more efficiently, reduce costs, and increase productivity. Energy efficiency is one of the best ways to accomplish these goals.
Energy efficiency is not about investment in expensive equipment and internal reorganization. Enormous energy saving opportunities is hidden in already existing energy data. Given that nowadays, energy data can be recorded from almost any device, a lot of data is captured regularly and therefore a lot of data is readily available.
Organizations can use this data to convert their buildings’ operations from being a cost center to a revenue center through reduction of energy-related spending which has a significant impact on the profitability of many businesses. All this is possible through analysis and interpretation of data to predict future events with greater accuracy. Energy data analytics therefore is about using very detailed data for further analysis, and is as a consequence, a crucial aspect of any data-driven energy management plan.
The application of Data and IT could drive significant cost savings in company-owned buildings and vehicle fleets. Virtual energy audits can be performed by combining energy meter data with other basic data about a building e.g. location, to analyze and identify potential energy savings opportunities. Investment in energy dashboards can further enable companies to have an ongoing look at where energy is being consumed in their buildings, and thus predict ways to reduce usage, not to mention that energy data analytics unlock savings opportunities and help companies to understand their everyday practices and operating requirements in a much more comprehensive manner.
Using energy data analytics can enable an organization to: determine discrepancies between baseline and actual energy data; benchmark and compare previous performance with actual energy usage. Energy data analytics also help businesses and organizations determine whether or not their Building Management System (BMS) is operating efficiently and hitting the targeted energy usage goals. They can then use this data to investigate areas for improvement or energy efficient upgrades. When energy data analytics are closely monitored, companies tend to operate more efficiently and with better control over relevant BMS data.