Overview of Data & Analytics adoption in the energy sector

Digital transformation in the segment is an essential accelerator for companies’ competitiveness
Digital transformation in the segment is an essential accelerator for companies’ competitiveness
Through Data & Analytics tools, companies have inputs to improve decision making. Photo: Freepik

The great market demand for the use of renewable sources e energy efficiency has driven the current energy scenario, demanding innovation and productivity.

Thus, the digital transformation in the segment is an essential accelerator for sustainability and competitiveness of companies. 

A survey of the global systems company International and Financial Systems points out that managers of energy and utilities sectors are increasingly focusing their attention on digital transformation themes

Data analysis and artificial intelligence These are the areas that arouse the greatest interest. In this context, the use and application of Data & Analytics stands out for encouraging the evolution and growth of this segment. 

The digital transformation process that many energy companies have been undergoing is driven, among several factors, by changes in the value chain. 

Advents as the opening of the free energy market, growth in the number of electric vehicles, smart home technologies, among others, open opportunities for companies to capture more value and create new digital products and services. 

At the same time, they create new needs, such as personalized payment methods, focus on customer experience and greater attention to safety. And data strategy permeates the entire chain, from end to end, as a central piece for growth, revenue preservation and strategic direction.

Through tools Data & Analytics companies have inputs to improve decision making, create predictive models to forecast and anticipate demands and maximize the use of their resources. 

It is possible to predict possible damage to machines and equipment, knowing when a certain piece of equipment will fail, for example, and thus being prepared for its review or replacement, without putting the entire company's operation at risk.

Changes made in the electric energy sector have traditionally been limited by the regulatory restrictions to which the segment is subject.

However, there are trends that have been imposing faster evolution on the sector, known as “4Ds”, highlighted by a survey carried out by the consultancy PwC - Decarbonization, Decentralization, Unbundling and Digitalization.

It is possible to highlight that the drop in the cost of batteries leads to the growth of distributed generation, responsible for supplying homes, buildings and facilities.

Furthermore, technology has allowed consumers to have access to more information, such as details of energy consumption, ensuring greater energy efficiency. 

With the exponential growth of customer control over Energy supply local, mass customization emerges as a response to the needs of this consumer. Based on data analysis, companies have the possibility of readjusting and optimizing resources that increase customers' perception of value.

In this context, a window of opportunities opens up in the sector that can be taken advantage of by those who are best prepared, such as companies that are able to combine the trends brought by the 4Ds with strategic alignment, capabilities, costs and organizational culture.

Na AMcom, we help large energy companies create, evolve and maintain Data & Analytics solutions that generate greater value for their business and operations. In one case, a multinational was facing critical problems with a high volume of fragmented data. 

Among the various impacts were low productivity, since people had to perform repetitive tasks; data security risk; delay in generating revenue; unsafe decision making, as there were errors, among other challenges.

After implementing our solutions, in addition to greater productivity due to integrations and automations, there were significant gains such as 100% reduction in data errors, systems for predictive analysis, which allow managers to look ahead and prepare operations for peak demands, as well such as a 50% reduction in time to generate revenue. 

The movement has been progressive towards digitalization and innovation in the segment and the benefits of digital transformation guarantee a responsible approach in the journey towards the energy of the future. 

Those who can navigate this complex environment and fully harness the power of data will be positioned to lead and thrive in an ever-evolving energy market.

Here at AMcom, we help organizations evolve on this journey, without the need to implement a complex process or one that includes the need for robust investments in complex technological platforms. 

The important thing is to start the process and begin to reap the results as you follow this path.

The opinions and information expressed are the sole responsibility of the author and do not necessarily represent the official position of the author. Canal Solar.

Photo by Rodrigo Strey
Rodrigo Strey
Vice President of AMcom, a technology company specialized in creating, maintaining and evolving personalized solutions for the digital transformation of large companies

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