Processes, data, analytics critical for improvement
Energy companies that recognise the value not only in data, but processes and people that surround it, and use this to drive insights, will thrive in their delivery of products and services. The reality is, when an organisation acts on feedback, customers, feel that they care. From connected smart home technologies and IoT devices to upgrading infrastructure, maximising grid and load efficiency, and minimising risk while improving profitability, disruption affects many areas in the energy production and distribution sector. Whether a producer, distributor, or reseller, data science, analytics, and predictive modelling can uncover critical intelligence, model scenarios, and see into the future.
Preventing future failures through analysing data to determine the root cause of previous mishaps; reducing cost and service options via analysing end-customer consumption; predicting energy demand via combining usage data from smart meters; and minimising fuel costs and maximising load capacity to improve profit margins.
The oil, gas, and energy sector require constant accuracy and operational flow. The Alteryx Analytic Process Automation Platform enables the energy industry to automate business processes and grants even novice-level knowledge workers direct self-service access to business-critical data insights at speed.
One of the main challenges currently faced in the energy sector is the transformation to sustainable renewable energy. Moreover, the fluctuations in demand and increasing consumer interest in renewable energy are leading to various alternative energy sources to distribute and offer as new services.
Bringing more options for consumers than ever before, while pressuring providers to reduce costs and increase competition. Maintaining consumer confidence and rewarding loyalty is now pivotal.
Yet, this requires an organisation to move to a customer-centric approach. From scoring customers on their likelihood to switch to another provider to proactively intervene and retain them, data and analytics play an essential role in understanding – and responding to – customer demands and expectations for every business.
Major sustainability concerns are pushing forward an energy efficiency agenda all over the world, which makes the necessity and urgency to find future solutions that preserve natural resources more relevant than ever.
The UAE has ambitious targets to meet the National Energy Plan 2050 and deliver energy efficiency and renewable energy. These developments, coupled with technological disruptions, will be key to accelerating global economies, but will also bring a broad spectrum of challenges.
Descriptive, predictive and location analytics will be key for data analysts in the oil and gas industry to connect, cleanse, and join data from multiple sources — spatial, geological, seismic, weather, and more to make informed decisions.
Only by empowering data workers within the energy sector to quickly build repeatable AI -informed predictive models without the need for coding or performing complex statistics will they be able to reimagine processes with fresh data-driven insights.
Key takeaways
- Sustainability concerns are pushing forward an energy efficiency agenda all over the world.
- Energy companies that recognise value not only in data but processes will thrive in delivery of services.
- When an organisation acts on feedback, customers feel they care.
- Preventing future failures through analysing data to determine the root cause of previous mishaps.
- Oil, gas, energy sector requires constant accuracy and operational flow.
- The Alteryx Analytic Process Automation Platform enables the energy industry to automate business processes.
- Data workers within the energy sector can build repeatable AI predictive models without the need for coding or complex statistics.
