The race is on, but are you prepared to win?
image credit: Used with permission.
- Dec 18, 2018 10:00 pm GMT
- 1532 views
You want to run a marathon. But it seems like a daunting task, so you enlist the help of friends and family who have already experienced race day. You also ask "experts" for their advice on effective training techniques: How fast should you run at each mile marker? How do terrain and elevation affect performance? What should you be eating? What time of day are you the fastest? Which brand of running shoes will help you perform better?
Whatever the challenge we may face, how we arrive at answers to questions or problems often is met with an overabundance of resources and data inputs that can seem impossible to process in a meaningful way. Technology today brings us endless access to possible inputs. Rapid advancements in computing, data science and the number of connected sensors in devices are growing at a rate that we cannot fully comprehend.
We can track data in so many ways, but where to start? The more data, the better the feedback. Once you’re connected, you may not realize that you rely on advanced data science and even artificial intelligence to deliver insights designed exactly for you. As the marathon runner, you want to make sense of all the data from your fitness tracker, cell phone and everything else to ensure you can achieve your goal.
The same transformation holds true for industry. Connected technologies and advanced data science are revolutionizing process, operations and safety. Look at energy companies such as utilities with their continued investments in advanced grid capabilities and connected infrastructure providing an entirely new system of possibilities. Now the reality of how to optimize their operations, energy delivery safety and security can be achieved through advanced insights never before available.
Just like the process an athlete goes through in preparing for a race, utility operations cannot be transformed overnight. The industry is rapidly evolving with edge-to-cloud solutions, and seeking to enable local decisions and drive resiliency.
Utility companies are bombarded with increasing amounts of raw data, but what does it all mean? How can they turn data into meaningful, actionable and insightful information? What policy, regulation and data governance is needed? In the case of a marathon runner, knowing that you ran five miles in 40 minutes one day, and five miles in 50 minutes another day doesn’t necessarily mean there’s no progress in your training regimen. Factors such as weather, time of day, track conditions and diet must also be taken into consideration. You rely on advanced algorithms and consolidated views to provide consumable data and track your performance
Energy providers are in the same situation. They need to work through the various stages of data strategies and how to apply them to their businesses. Big data and connected technologies enable operators to analyze data across systems and identify faults, risk, and outage potential in advance of downtime. As in running a marathon, the focus is on achieving peak performance and meeting key goals – solving problems, controlling costs and improving revenue. Utilities can transform their operations using a disruptive approach across verticals, from product design, operations, customer engagement, energy usage and demand, to the resources available to meet those needs.
Now, more than ever, power companies require a systemic approach to data science, software and system integration to truly achieve the value of data and determine how to operate more efficiently and reliably. For example, utilities spend up to one-third of their budget on vegetation management to mitigate the threat of tree-caused power outages. Envision being able to predict vegetation patterns by combining weather data with growth patterns more accurately. And using this platform, you could also determine where energy diversion is occurring more precisely – and then take steps to regain lost revenue. No more manual processes and rolling trucks to identify electricity theft or causes for losses. Eliminate inefficiency while improving safety.
As a leading global technology provider, Honeywell is committed to putting actionable insights in the hands of the energy industry to better serve customers. Our Videre Solution Suite employs a secure Industrial “Insights of Things” (IIoT) platform, advanced software solutions and connected enterprise assets to help utilities leverage data and gain insights for meeting their critical operational and business challenges.
To help minimize instances of non-technical loss in power systems, Honeywell offers a holistic and multi-faceted approach of advanced analytics, hardware, case management tools, behavioral change programs, UAV line inspections, prepayment plans, etc.
Just as you might rely on a team of experts in your quest to run a marathon, utilities can engage a team of energy management specialists to help develop intelligence to meet their goal of improved performance, greater efficiency, increased reliability and significant cost savings.
Honeywell is here to help with your needs. Expect Results. Expect Insights. Expect Experience.