With the energy sector fast becoming service-aligned, customer insight is becoming an interesting area for all players. Customers are increasingly looking for value, hence the importance of intelligent RE analytics.
Few renewable energy firms can boast of the capability to decipher consumer behavior down the subtleties. Without a provider for Insights as a Service (IaaS), a company may not have the capacity to derive insights from energy alerts, energy behavior, and energy equipment.
Renewable energy technologies are variable by nature, so it is essential to acquire and process their data in a voluminous form and as fast as possible. It should not stop there; the data should offer insight for the RE company.
IaaS is the way to go for RE business insights.
The Evolution of Insights as a Service in the RE Industry
Renewables are at the center of the global energy transition, which is in full swing. Renewable energy companies have discovered the big opportunity availed by big data. Big data helps companies to extract valuable insights that guide business operations.
Over the last decade, there has been a surge in the need for valuable insights from the large volumes of data that RE firms produce. Most of these firms lack the workforce and infrastructure to unearth these insights.
Out of this scenario, insights as a service emerged. IT companies are creating platforms to address this need. This service is relevant for RE companies because it allows them to take advantage of data-based insights without having to hire data scientists and invest in expensive IT infrastructure.
IaaS for renewable companies aims to provide comprehensive and attractive data sets to help upgrade operations and enhance profitability. This is relevant for renewable energy firms that scan their data or store it in dispersed silos.
RE analytics is better with IaaS because then it goes further than just viewing data and interpreting it historically. Active analysis and derivation of real-time insights become part of the process.
The best IaaS providers will offer a solid plan to use the insights derived from big data. Since IaaS and Software as a Service (SaaS) go hand-in-hand, one needs to engage a company that can transverse these services comfortably.
Given the challenges and barriers the RE industry must counter in this age, it is time to consider this service.
Challenges the RE Industry Needs To Solve
While the industry has grown tremendously over the last decade, fossil fuels are still dominant when you look at general energy consumption. Renewable energy companies are working hard to solve several impediments to overturning this dominance that threatens not only business survival but also the future of the environment.
- Poor Asset Tracking Mechanisms: Asset tracking is crucial if RE firms are to optimize their clean energy supply. Some of the parameters that need proper tracking are demand & supply trends and historical patterns
- Geographically Scattered Data: In this case, the opportunity to meaningfully exploit the energy data is absent.
- No Verifiable Objectives: Many RE companies lack a plan for modern technology adoption, so they are unable to have energy efficiency breakthroughs
- Lack of a consolidated platform: Only a consolidated platform can collect and verify energy data, hence helping companies make informed data-driven decisions.
If your renewable energy business is grappling with such issues, you need to give IaaS a thought.
Benefits of IaaS for Your Company
Fragmentation of energy data is a serious problem for renewable energy companies, particularly the bigger ones. This situation negatively impacts the decision-making process. The result will often be less attractive if there are specific data sets for different company departments.
Still, many companies choose to silo their energy data, even though they have the mechanisms to collect data simultaneously. Inevitably, there is a lack of data optimization because of the perpetual disconnect between departments.
An IaaS platform is the answer to fragmented energy data and its effects. This service allows energy companies to form an integrated data set for easy scanning and improved insights.
All the company needs is to find a reliable IaaS provider and its fortunes will change.
Insights as a Service with QBI
At QBI, we hold that for your renewable energy business to thrive, you need to apply insights as a service. Renewable energy providers across the globe are fast discovering the power of this service for improved efficiencies and expanded operations.
Our intervention is simple but effective. We offer asset management software that transforms raw energy data into business insights that could improve and secure the value of your assets.
With our platform, there is no better way to integrate all the data sources impacting your business and build a centralized data warehouse. You have at your disposal the most advanced features to develop deep analyses and optimize your operations globally.
We also provide event management, whereby a data-based engine can allocate losses to different buckets and work as a safety net for missed alarms from the SCADAs on-site and overloaded control centers.
If you are looking for tailored deliverable reports, tailored business intelligence, and other technical scenarios, our insights as a service offer it all.
Contact us for a tailored package of this service!
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