Share this
Leveraging Cross-Industry Expertise and Data Management in the Energy Sector
by Seven Peaks on Dec 18, 2024 4:54:58 PM
Redefining the Value of Data
Two decades ago, people in Europe didn’t understand data beyond the necessity to store it and find some space to do so. Therefore, it was primarily seen as a burden.
Today, we see it much more as a source of value, like petroleum. Sometimes data is much more valuable to a company than the product it offers. This is the business model Google has adopted: they prioritize the data they collect from you, not the services they provide.
The Implementation of Data in IoT
Perhaps in response to the strict regulations imposed on data usage by European regulators, there is a lot of creativity in how data is leveraged. Europeans are already using IoT tools like agricultural drones to scan and identify where the crops haven’t been irrigated, while integrating weather data analytics to assess its impact on crop production.
IoT not only helps us plan and optimize production but also prevents failures through predictive maintenance. If meteorological data sent from a weather station indicates that a serious storm is coming, a power plant can take precautions or prepare for power outages in the area.
Why Data Matters to the Energy Sector
Data is critical for the energy sector. For example, in the power grid, it's essential to know how many people are using electricity at any time, why, and how much they consume.
If your prior data indicates abnormal power usage during events like increased appliance use in soccer matches or sudden drop in temperature during a storm, then through data analysis you can predict future spikes in power demand and prevent the outage. However, data analysis by national providers (such as EGAT) requires huge amounts of data that is securely and effectively stored and managed.
In data management, the question is when you should delete your data. The answer can vary, depending on the industry. Data from 2000 can be precious today. When creating a database, engineers should be mindful of the data lifespan and how long it will last in the system. Companies that back up their data and organize it well can leverage that information and get ahead of their competitors.
Since energy data is crucial to the livelihood of people, you need to invest a lot in cybersecurity. If a robber accesses energy data to see when a house's power consumption drops, they can identify when its occupants are away and the risk of getting caught is lower.
In the same vein, there are plenty of risks associated with grid data. So, companies must have backup plans because you’ll never know when there will be another black swan such as a big electricity outage or a cyber attack.
The Benefits of AI to the Energy Sector
The possibilities are endless with AI and machine learning. The key usage of AI is to learn from new data and reduce problems. Your organization can reduce costs by preventing problems from occurring in the first place.
For instance, it is important to check for abnormal behaviors of batteries in UPS and servers in data centers. We can use AI to help detect these issues. Generally, machines can detect issues before humans because they are systematic and do not require motivational rewards.
However, in automation and AI, there are always ‘unknown unknowns’ to consider. We have to be humble and acknowledge that we still know very little about data. We should also be cautious with how we implement it or how we assign someone to audit it. Moreover, we can still see lots of biases in the information generated from some of the popular AI tools today.
How Cross-Industry Expertise Can Help the Energy Sector
Many companies in the energy sector are turning into tech companies. Before, they produced a lot of hardware products. Now, they have to think of ways to create some value in the digital world.
To achieve that goal, they need to talk to industry experts. There’s always something new to learn from the IT sector. Energy operators can work with tech experts to identify the best practices for data management and IoT implementation.
Data management practices from the IT sector offer significant opportunities for the energy industry to enhance efficiency and responsiveness.
Predictive analytics can be leveraged to forecast energy demand and optimize resource allocation, with AI-driven maintenance tools analyzing equipment data to preempt failures and minimize downtime.
The implementation of blockchain technologies in smart grid enables real-time monitoring and management of electricity supply networks, utilizing AI algorithms to predict consumption patterns and detect faults, thereby improving grid reliability.
Furthermore, agile demand response management practices allow energy providers to adjust usage based on real-time demand signals, facilitating a balance between supply and demand while actively engaging consumers in energy conservation efforts.
Developing customer-centric applications can empower users by providing insights into their energy consumption, offering personalized tips for savings based on historical data, which enhances engagement.
Lastly, as the sector embraces digitalization, establishing cybersecurity operations centers is crucial. Adopting advanced cybersecurity measures ensures the protection of sensitive data and the integrity of energy management systems, safeguarding against potential threats in an increasingly interconnected environment.
Ultimately, the energy and IT sectors should work closer together to develop integrated solutions that benefit humanity.
|
Maxime Carpentier, EVP Operations & Services of Alkia IT Services Maxime is first and foremost an engineer. He landed in Bangkok in 2000 for a 3-week rollout project for Orange (now True), and 21 years later, he is back in charge of IoT operations for True Digital. |
Share this
- FinTech (13)
- Career (12)
- Expert Spotlight (11)
- Thought Leadership (11)
- Product Growth (9)
- Software Development (9)
- Product Design (7)
- Data and Analytics (5)
- Design Thinking (5)
- InsurTech (5)
- QA (5)
- Agile (4)
- Cloud (4)
- Company (4)
- Digital Transformation (4)
- Financial Inclusion (4)
- JavaScript (4)
- Seven Peaks Insights (4)
- Trend (4)
- UX Design (4)
- UX Research (4)
- .NET (3)
- Android Developer (3)
- Android Development (3)
- Azure (3)
- Banking (3)
- CSR (3)
- Data (3)
- DevOps (3)
- IoT (3)
- Product-Centric Mindset (3)
- AI (2)
- CDP (2)
- Cloud Development (2)
- Customer Data Platform (2)
- Digital Product (2)
- E-wallet (2)
- Expat (2)
- Hybrid App (2)
- Kotlin (2)
- Product Owner (2)
- Software Tester (2)
- SwiftUI (2)
- UI (2)
- UX (2)
- UX Writing (2)
- Visual Design (2)
- iOS Development (2)
- .NET 8 (1)
- 2023 (1)
- 4IR (1)
- 5G (1)
- API (1)
- Agritech (1)
- AndroidX Biometric (1)
- App Development (1)
- Azure OpenAI Service (1)
- Backend (1)
- Brand Loyalty (1)
- CI/CD (1)
- Conversions (1)
- Cross-Platform Application (1)
- Dashboard (1)
- Digital (1)
- Digital Healthcare (1)
- Digital ID (1)
- Digital Landscape (1)
- Engineer (1)
- Expert Interview (1)
- Fiddler (1)
- Figma (1)
- Financial Times (1)
- GraphQL (1)
- Hilt (1)
- IT outsourcing (1)
- KYC (1)
- MVP (1)
- MVVM (1)
- Metaverse (1)
- Morphosis (1)
- Native App (1)
- New C# (1)
- Newsletter (1)
- Node.js (1)
- Payment (1)
- Platform Engineer (1)
- Platform Engineering Jobs (1)
- Platform Engineering Services (1)
- Project Manager (1)
- Rabbit MQ (1)
- React (1)
- ReactJS (1)
- Stripe (1)
- Super App (1)
- Turnkey (1)
- UIkit (1)
- UX Strategy (1)
- Web 3.0 (1)
- Web-Debugging Tool (1)
- December 2024 (2)
- November 2024 (2)
- September 2024 (4)
- August 2024 (3)
- July 2024 (6)
- April 2024 (1)
- March 2024 (7)
- February 2024 (14)
- January 2024 (14)
- December 2023 (9)
- November 2023 (9)
- October 2023 (2)
- September 2023 (6)
- August 2023 (6)
- June 2023 (4)
- May 2023 (4)
- April 2023 (1)
- March 2023 (1)
- November 2022 (1)
- August 2022 (4)
- July 2022 (1)
- June 2022 (6)
- April 2022 (6)
- March 2022 (4)
- February 2022 (8)
- January 2022 (4)
- December 2021 (1)
- November 2021 (2)
- October 2021 (2)
- September 2021 (1)
- August 2021 (3)
- July 2021 (1)
- June 2021 (2)
- May 2021 (1)
- March 2021 (4)
- February 2021 (5)
- December 2020 (4)
- November 2020 (1)
- June 2020 (1)
- April 2020 (1)