All You Need to Know About Smart Grid Big Data Analytics

Did you know the smart grid data analytics market is anticipated to grow by 25% from 2020 to 2024? This data analytics is now playing a more important role than anything else in the modern industrial system today. Indeed, it has unlocked novel groundbreaking opportunities for almost everyone. While among this all, smart grid data analytics is shaking up the entire industry with its utilities and technological innovations, making a significant impact on the lives of many people.

Please continue reading to know more about smart grid big data analytics, and how it is influencing the living of us all!

Smart Grid – What Is It?

A smart grid has become a red hot topic and, of course, because of so many good reasons. In the era of tech-savvy world and continually technology advancing time, this smart grid has come up as a great boon with its potential advantages. A smart grid is a complete energy infrastructure embedding transformers, substations, fusion transmissions, and the future, directing its energy to different households, utilizing modern information technologies. This is used to enable the digital transmission of information from one point to another while providing information more intelligently to different organizations and households.

This smart grid is deemed to be a unified cluster computing platform, which is found to be very suitable for performing and storing smart grid information at real-time pricing. The term ‘smart’ in smart girds defines the additional infrastructure layer that is held accountable for two way communication happening in numerous transmission lines and other devices. 

Thanks to the increase of cloud computing and Internet Of Things (IoT) technology coupled with the increasing penetration of data and communication, for making this two-way communication accessible in these smart grids!

Benefits of Smart Grid

Smart grid has now become a vital part, and almost all energy providers are now effectively drawing the full value of the smart grid. Utility service providers are known to be the primary consumers of smart grid data analytics solutions. These solutions help in making better choices and also in optimizing grid operations. It is best known to substantially spur the market growth by enabling a better layer of communication between central controllers, logistic units, and actuators. 

It’s an exciting development into the energy industry as it takes a massive leap towards the future. The smart grid makes more efficient use of resources and improves the network throughout it by keeping all devices connected. 

Smart grid comes with a lot of benefits too, and some of those are –

•    Better security

•    Better integration of renewable energy

•    More efficient energy transmission

•    Lower management costs 

•    Less operational costs 

•    Improve energy management

With these, the smart grid comes with an ability to generate more data, and in that case, analytics is required to be there to analyze the complete information with ease. Or else, without it, this will be almost impossible to extract proper value. The best part about it is, you can properly leverage the investments made in these platforms without disrupting its functionality.

Aligning Smart Grip Data Analytics with the Business

It has all the potential required to transform the entire utility industry and maximize the business value if used ideally. No longer, it is required to analyze the data in the way one used to follow earlier. With its integration, certain data can be analyzed in the device itself, whereas other data can be simply added to the data lake and can be analyzed later on. Businesses must consider integrating analytics platforms to assess the right data at the correct location. Note these analytics platforms bring numerous benefits to the business, allowing them to take instant actions. 

The right platform can make a really big difference in your businesses, particularly if the real-time data is something important part of your business’ everyday work process. Therefore, leveraging the right data from the right place and at the right time is going to lead your business to so many improvements such as superior asset management, smarter energy efficiency, better customer engagement, and more robust system integrity too.   

Smart Grip Data Analytics Unlocking the Doors of Success

Smart grip analytics is going to make an immense influence in the coming years. To win in business today, businesses have already started moving towards a smart grid. For different utilities and energy firms, it is a key to success to choose a platform for data analytics that does not influence meter-to-cash-functionality, gives support to different use cases, quality data and can function its best in real-time. This way, utilities can unlock the real value of the data and finally be able to modernize, better serve the customers, and adapt to the world of energy provisioning.