The energy and utility sector is something most of us take for granted. We pay them for warm showers and to heat our homes, and no doubt we will all be reaching for the thermostat over the long winter months ahead to keep us extra cosy. However, behind the scenes, these companies have to embrace digital transformation and harvest massive amounts of data in order to grow, evolve, and meet the demands of the future.
The industry is constantly up against challenges; from pressure to reduce emissions, increasing demand, and providing competitive prices to their consumers. Google Cloud has a wide range of industry-leading and energy-specific solutions aimed at helping these businesses digitise faster, and respond to these demands.
Why data is important for digital transformation
The most valuable asset many companies have is data, and in order to be successful, energy providers must adapt to change, stay current, and realise this. They need to be able to store, read, and analyse data properly, in order to gain a competitive advantage and solve complex business challenges.
Google’s BigQuery can help businesses bring different data sets together in order to gain those insights, and Google’s AI-powered solutions are the key to unlocking analytics capabilities within your data sets. In this case study, you can learn how Energyworx, an energy supplier in the Netherlands, uses GCP and smart analytics to harvest their data to better plan for future energy demand, and find ways their customers can save on their electricity use.
If you would like to learn how to use smart analytics to help your business grow and evolve, download our Smart Analytics White Paper here.
A deeper dive into AI and ML energy-specific solutions
Powerful AI models use data analytics to provide actionable insights, and these models can help inspections at scale. This is extremely useful for energy and utility companies who have large areas they need to monitor, such as energy grids, wind farms, or solar panels. Google Cloud’s Visual Inspection solution reduces inspection times without compromising on safety or accuracy and makes organisations more efficient and sustainable.
Businesses also have the ability to build their own custom Machine Learning model with minimal effort and little to no Machine Learning experience.
AES is a Fortune 500 global power company that distributes sustainable energy in 15 countries. Their asset inventory is phenomenal, with a value of over £33 billion. They use Machine Learning and drone technology in their wind farms to monitor, manage, and maintain their assets.
This was the perfect solution, as it was in keeping with their greener vision and they were able to massively scale using Google’s powerful infrastructure. Learn more about their custom made solution powered by Google Cloud’s AutoML Vision here.
For most modern energy and utility companies, contributing to greater customer satisfaction is also an important identifier for success.
AI models like Contact Centre AI allows agents to assist with customer requests more efficiently, leading to shorter call times and improved outcomes, with much quicker resolutions. Learn more about Google Clouds CCAI and how companies are using this technology to modernise.
A smart future for the energy industry
Smart meters are the latest innovation to tackle the biggest challenges facing the industry today. By 2024, almost 77% of EU households will have one installed*.
This new technology brings multiple benefits such as delivering automated, real-time readings, giving consumers access to their own data; and being able to identify faulty appliances, reducing downtime, and enabling repair staff to be efficient and effective with their time. They also improve the awareness of energy consumption, allowing individual households and businesses to reduce their energy use and generate savings.
Of course, with all new technology advancements, comes an influx of data. Energy companies need a scalable data warehouse to be able to import, process, and anaylse this data. Google Cloud’s BigQuery streams data in real-time and can predict business outcomes with powerful built-in ML models; plus it runs on Google’s infrastructure and is a managed service, meaning companies spend less time developing technology and can focus on their service instead. Read how Halsfund, the largest power company in Norway, uses GCP and BigQuery for the new smart meter network here.
Being a successful energy and utilities company today requires the right technology to solve big business problems. However, in order to truly succeed, you must make the right decisions for your business by making the most of the information you gather.
Now you know what you can do with your data, are you using it to the best of your advantage?
Speak to one of our data experts and we can help you implement this technology and show you how to use it. Contact us here.
*By 2024 almost 77% of EU households will have a smart meter installed, European Commission
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