By Steve Farr, Oil & Gas Industry Expert Everyone in our industry attends functions, conventions, and shows that hint at the future of data analytics. Sure, we go to shows, but let’s be honest: who really remembers every detail of every presentation, 12 months earlier on a particular day?
The US is poised to surpass Saudi Arabia and Russia to become the world’s largest oil producer by 2016, according to the International Energy Agency. Meanwhile, natural gas production in the US has risen tenfold since 2006, according to the U.S. Energy Information Administration.
Energy providers, real estate management companies, and other organizations looking to minimize their energy consumption and spending continue to invest in smart energy technologies at a brisk pace. Spending in the global smart thermostat market alone is expected to jump from about $100 million today to $1.4 billion by 2020,… Read More →
As utilities continue to pump up their investments in smart grid technologies, this is creating rich opportunities for power companies to offer a wide variety of new applications and services to residential, commercial, and industrial customers.
Scientists and researchers continue to push the envelope to find new ways to harness, store, and distribute sources of energy for retail, commercial, and industrial consumers. A prime example of this involves Duke Energy. The company’s Notrees Battery Storage Project in Texas centers around the installation of large-scale batteries capable of storing… Read More →
Superstorm Sandy provided the US energy industry with a powerful wake-up call as to the steps that need to be taken to reduce vulnerabilities in the nation’s energy grid. Weather patterns from the past 50 years no longer serve as reliable data sets for predicting the likelihood for or intensity… Read More →
Add forestry to the numerous industries that are making use of big data and data analytics to manage their businesses more effectively. A growing number of forestry firms are using big data and data analytics to help meet their sustainability goals as well as ensure that they generate a continuous… Read More →
One of the greatest benefits that companies gain from data analysis is the ability to spot new business opportunities and market trends that they may have otherwise missed. In the energy industry, companies such as EnerNoc and Energy Points are drawing on analytics to deliver new business services to commercial… Read More →
Over the past few years, businesses have been placing greater focus on their energy consumption and its impact on operating costs and profitability as energy costs and economic uncertainty continue to mount. If anything, organizational focus on energy management will continue to intensify as businesses rely on these efforts to… Read More →
Since energy was a top issue in last night’s State of Union address, we wanted to emphasize that analytics will play a key role. As deregulation in various states helps to open up competition, energy companies have tremendous opportunities to expand their customer and revenue bases. On the flip side, deregulation… Read More →