4 Tips to Find Value in Energy Data
Corporate energy and sustainability data is everywhere, and the mountain of bits and bytes is growing.
Data can come from a variety of sources, including utility bills, meters, on-site software and systems, and surveys. But despite data growing exponentially every year, most of it is what’s called “dark data” — data that is never used. In fact, research shows that only one half of one percent of the world’s data is being analyzed.
Simply collecting data is not effective; how it’s used is what really matters.
And just what can organizations do with all this information? Energy and sustainability data can be used to:
- Find sites that are consuming more resources than expected and develop strategies to reduce waste.
- Improve equiptment efficiency and encourage behavhior to reduce consumption.
- Define, prioritize, measure and report on retrofitting and maintenance activities.
- Report on enterprise-wide performance metrics to internal and external stakeholders.
Harness the data explosion and gain an advantage. Here are 4 tips to get started.
1) Brush up on new energy market challenges: Companies can’t afford to look at market data the same as in the past.
2) Evolve with the market: There are 17 emission trading systems. Learn which ones are most relevant and don’t wait for change to come — get ahead of it.
3) Unite facilities, procurement and sustainability teams: Reduce costs and improve performance through greater collaboration between these departments.
4) Put data into action: Collect, centralize, contextualize and verify all your energy and sustainability data.
Industry experts discussed this topic and provided more tips for finding value in energy data during a recent webinar. Watch the replay.