Make Better Business Decisions With Advanced Analytics And More Data
Most data scientist will tell you that with more relevant data their algorithms produce improved results that lead to better business decisions. This is true in many industries, but is especially important in the renewable energy business, where data is a critical tool in becoming more competitive with traditional energy sources like coal and natural gas.
Below are three examples where better business decisions were achieved from improved algorithms and more data:
1. In a recent article on Altenergymag, Vestas Wind Systems used more wind data and advanced analytics to calculate what size turbines to use and where to place them on the Fosen peninsula wind farm in Norway. This reduced the total investment by €150 million, lowered operating and maintenance costs, and changed the project from unfeasible to feasible.
If you are looking for more data to improve your wind energy operation, below is some data available via the Planet OS API:
2. Solar Industry Mag writes about how Locus Energy, Space-Time Insight, and Bidgely used more solar data and advanced analytics to improve solar energy supply forecasting, enable fine grain demand response campaign planning, and enhance real time grid balancing operations. This resulted in better decisions about where to deploy solar generation, faster response to power demand, and lower operating costs for solar power infrastructure.
If you are looking for more data to improve your solar energy operations, below is some data available via the Planet OS API:
3. National Renewable Energy Laboratory (NREL) used more phasor measurement data and detailed data algorithms to predict major power grid events and explore the potential impact of wind energy on the power grid. This resulted in grid operators responding faster to events and balancing renewable energy supply in the power grid.
These and many more examples of data-driven business decisions demonstration that more data plus analytics leads to better business outcomes. So if you are looking for more data to feed your algorithms, please visit the Planet OS Datahub and try the service for free.
Originally published at planetos.com on August 29, 2016.