Just 3 simple steps to drive business value from smart grid data?
Big Data may be this year's industry buzz phrase â€“ but how often do you hear anyone use the term "simple" to describe the process of turning all that data streaming in from smart meters and sensors into real business value?
According to smart grid and energy specialists at KPMG, the big audit, tax and advisory firm, there's a simple, three-step process that can help utilities use data to drive value. And KPMG partner Ron Clanton, who heads up the firm's smart grid practice, says utility executives often overlook data when making their smart grid business case.
"Leveraging data as a source of value is the key to establishing and realizing a strong smart grid business case," Clanton says.
Adds Matt Smith, Chicago-based principal in KPMG's energy advisory services: "Data has the potential to be a key transformational driver in helping utilities optimize new opportunities from smart grid investments, with customer experience, utility operations and advanced power management as areas that can benefit. The challenge for utilities is how to identify and use that information to transform their business."