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Converting data into cash

Posted: Tuesday 26th July 2016

Whether we are talking about energy or water utilities, public authorities or industry: digitalization means that organizations and institutions of every type now collect huge amounts of raw data.

This raw data is often left unused in databases, although it contains valuable information that organizations could put to profitable use - with regard to their business processes and strategic direction as well as their competitive positioning. With its new Data Analytics Platform KISTERS now offers organizations a powerful solution that puts them in a position to draw relevant insights from mass data. What is unique, however, is that for the first time a generic big data solution has been combined with subject-specific software and know-how regarding particular market and application areas. As a result, users can perform more than simple analyses of their business processes. Instead, new capabilities directly reference market specifics and thus offer significant added value. Analyses extend from the description of the current situation (descriptive analytics) through reliable predictions of future developments under the influence of changing circumstances (predictive analytics) through recommendations for action (prescriptive analytics). On this basis KISTERS' Data Analytics Platform provides the foundation of sound, data-driven corporate decision-making.

A broad spectrum of sectors can profit from the intelligent solution: for example, network operators will gain complete transparency over the condition and performance of their assets, which in turn will enable them to take the necessary and appropriate measures in order to guarantee improvements in network stability and security of supply. Power generating companies can also take advantage of the Data Analytics Platform, for example by forecasting the optimum amount of electricity that combined heat and power (CHP) stations should produce for sale on electricity exchange markets. With the help of the KISTERS solution, operators can analyze and optimize power generation schedules to determine the volume of electricity to be generated within a high degree of forecast accuracy. This can drive savings of up to £ 60,000 per month for individual CHPs.

Water utilities can also realize significant cost savings, for instance through the optimization of pump control systems. Flood forecasts achieve greater reliability and precision through adaptive, statistical forecasting algorithms. Furthermore, the strengths of the Data Analytics Platform play out to the full in the context of Industry 4.0, the present industrial revolution in which cyber-physical production processes capture and convert mass data into unprecedented efficiency.

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August 2021

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