Smart reservoirs: drilling into the value of data

Category : News

How your business will be able to gain a competitive edge from smart metering.

If you have automatic smart metering (AMR) installed, you’ll already be benefitting from accurate energy bills and not having to deal with manual electricity and gas meter readings. But there are further benefits, like being able to save energy and money based on analysis of your usage data.

More businesses will be able to seize these opportunities with next-generation SMETS2 smart metering, set to roll out in the coming months. Going smart will also enable businesses to start building up their own data and smart reservoirs – and data as a commodity could be as valuable as oil.

Oil is all around us, not only powering transport but also fuelling factories, forming raw material for plastics and more. In the digital age, data is all around us, too. When it comes to driving businesses forward, data could be as crucial as fossil fuels have been.

The oil lifecycle has five key stages: locate a reservoir, perform analysis, extract, refine, and finally turn the oil into fuel or products to sell. Like oil, data builds up over time, gradually forming a reservoir of insights and knowledge. And as with oil, the value of data lies in refining it, so that you can use it to power other activities and create new products.

Your smart meter data will be able to help you:

  • Discover where you can make energy cost savings in day-to-day operations
  • Pinpoint inefficient equipment or practices, by picking up on changes in your company’s energy usage
  • More accurately assess the risk of expanding to new sites or taking on new energy assets, based on solid energy usage information

All this will allow you to develop and execute an energy strategy to improve your company’s bottom line.

Embracing a smart future

To see how businesses are succeeding from harnessing data, all you need to look at are the companies sitting in your pocket: the big tech players powering smartphones, search engines, social media and entertainment, right through to supermarkets and e-commerce.

They’re leading the way by tapping into their own – not others’ – smart site reservoirs. From the information they have extracted and refined, they’re devising strategies. Implementing these puts their own companies in a stronger, more energy efficient and most importantly, more sustainable position.

Over the next couple of years, smart metering will become the norm, for companies large and small.

Smart metering will help businesses take advantage of an onset of new competitive energy efficiency related smart tariffs and products. This means not only benefitting from remote readings and accurate billing, but also being able to do more with what your detailed energy data is telling you.

And whatever the future holds for the relationship between the UK and the EU, smart metering future-proofs businesses as the UK and European ‘Smart Grid’ continues to build up around us.

How to get going with extracting and using smart data

Smart metering will fill up that all important smart reservoir. Then, refining smart data means deftly using output and insight generated by platforms such as Clarity.

Clarity is SSE Business Energy’s online energy management platform: a suite of tools designed to help you measure, manage and forecast your energy usage. You can use this powerful but easy to understand piece of software to appraise, extract and make sense of the half-hourly data generated by your meters. It then presents what’s happening across your estate in a range of reports.

Your company’s energy/cost manager can refine the information into a tangible, actionable energy strategy. Clarity is free with your SSE Business Energy account, and you can integrate it with other systems.

For smaller businesses, Clarity Managed allows you to achieve the benefits of having an Energy Manager – without hiring one. There’s an additional fee for Clarity Managed which includes a quarterly meeting with an Energy Manager, who will analyse and discuss your data and identify opportunities to reduce energy usage.

If you struck oil in your garden, you’d probably want to tap that well. So, if you’re interested in drilling into the value of your own data reservoir, and how your business will be able to benefit from smart metering, you can find out more and register your interest here.

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Adam Downing

Head of Technical Billing

Adam is responsible for meter operations, data collection and aggregation activities within SSE Business Energy, as well as building and maintaining relationships with metering agencies.
View all posts by Adam Downing >

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