Redefining Energy Industry with Embedded Analytics
Introduction
In today’s world, energy demand plays an essential role in everyone’s life. Energy efficiency is the key term in the energy sector. Embedded analytics redefines the way energy companies use energy resources efficiently and allows them to make more profit by working smart.
In this blog post, I am going to give you an overview of how embedded analytics and business intelligence (BI) help the energy sector in every aspect.
BI and embedded analytics in the energy sector
Business intelligence helps energy suppliers analyze, supervise, and optimize their data, giving them actionable insights and assisting in making effective decisions. Embedded analytics help developers nest dashboards and data inside applications that companies already use most. This makes it easier for businesses to provide information to staff, clients, suppliers, and stakeholders right where they work, allowing them to answer questions, make informed choices, and act quicker. When those dashboards become an integral part of the workflow of an end user, it will do wonders for their business.
Embedding Bold BI dashboards provides energy companies like yours a deeper insight into all dimensions of the energy sector and helps you improve your profit margin with a better understanding of large-scale trends in the industry. Analyzing previous energy consumption data will help you:
- Recognize customers’ consuming patterns, preparing you for upcoming months.
- Predict the risk associated with energy trading.
- See overall energy generation and power outages, helping you solve issues in real time.
- Enhance your decisions with energy market forecasts.
By embedding energy dashboards, you can monitor customers’ energy consumption as well as the power plant’s live production status. It also gives you a comprehensive overall analysis by tracking important KPIs such as: production cost, production distribution, average energy consumption, equipment downtime, efficiency of plant, and ROI.
We’ll discuss two energy dashboards in this article, addressing specific business use cases by having them deployed as part of your application.
Energy consumption monitoring dashboard
With the energy consumption monitoring dashboard embedded in your application, you can track overall energy use and production cost numbers for a given date or date range. It helps you view energy costs and demands for each economic sector.
- Monthly energy consumption and production cost: Energy consumed and the production cost by month.
- Production quantity: Detailed breakdown of the various types of energy sources that are used by each industry.
- Monthly production cost: Most-used resources and each month’s production cost.
- Average energy consumption by sector: Energy demands of different economic sectors and how each sector relies on various sources.
This dashboard provides not only an overview of energy consumption, but also the detailed breakdown of energy consumption and cost numbers.
Power plant monitoring dashboard
With the power plant monitoring dashboard, you can track live production data of a series of power plants, the efficiency of equipment, ROI, and more. You can also compare the plant’s total capacity, total energy generated, and targets.
- Ambient temperature: Since the performance of the power plant depends on ambient air temperature, this widget helps you to measure it.
- Power plant details: The location, turbine type, actual vs. expected output, production rate, and status of each plant.
- ROI: Evaluate the efficiency of an investment or compare the efficiency of a number of different investments.
- Average efficiency of turbines: The performance of each type of turbine. This will help you compare the turbine type and the expected outcome and take appropriate measures.
These details will help your decision-makers to analyze a plant’s output in real time while ensuring long-term efficiency and profitability.
By tracking these metrics, you are now able to meet your customers’ needs and create a positive impact on your company’s long-term financial success.
Conclusion
Bold BI Embedded is a powerful SDK for embedding analyticsseamlessly inside your application built with popular frameworks like Angular, ASP.NET Core, or MVC. You can embed one or more dashboards, or just one or more widgets, in your application as needed. Since Bold BI is flexible and allows deployment in any environment, like Windows, Linux, Kubernetes, or Docker, you can easily deploy analytics with your software in any of these platforms. Refer here for more embedding samples by framework.
I hope you now have a better understanding of how embedded analytics and BI help the energy sector. If you have any questions on this blog, please feel free to post them in the following comment section. If you are not already a customer, please schedule a free 30-minute demo with our experts to discuss creating dashboards and any other features you would like to learn more about. You can also contact us by submitting your questions through the Bold BI website or, if you already have an account, you can log in to submit your support question.
Originally published at https://www.boldbi.com on May 25, 2021.
