Six Things to Look for in an Energy Analytics Resource

Successful energy conservation requires an accurate understanding of one’s current power use.

Unless you know how much electricity you’re currently utilizing, then analyze that data for specific insights into patterns and trends, it can be difficult to identify areas of improvement.

For commercial clients looking to reduce their energy spend and improve the sustainability of their buildings, promising new technology makes it possible to get up-to-the-minute information on this activity.

Yet, it’s a vast digital wilderness out there and not all innovations are created equal. Before investing in a new energy monitoring device or software, read this first. Today, we’re sharing six features to look for to make sure the energy analytics resource you invest in is one well-suited for your company’s needs.

Ready to learn more? Let’s dig in.

1. A Cloud-Based Solution

We live in a world that requires 24/7 connectivity. As companies become more globalized and the traditional 9-5 workday morphs into an always-on environment for collaboration, it’s more important than ever before that mission-critical applications be both reliable and accessible.

Your energy monitoring device, software or platform benefits from residing in the cloud, as it enables all authorized employees to access the metrics at any time of day, from anywhere, and using any device. Decision-making can be based on real-time analytics rather than educated guesses, and no one is left in the dark on an essential update. Moreover, backup energy information is stored in the cloud for quick retrieval.

2. Security as a Chief Priority

Energy-related data should remain confidential and safeguarded. If the device in question does not come equipped with fail-safe security measures, it’s smart to look elsewhere.

Where possible, seek one with bank-level authorization measures to ensure that your company’s energy information remains protected and far away from hackers, intruders or simply unassuming employees who shouldn’t have access to that level of corporate insight.

3. Robust Prediction Capabilities

A data-driven prediction model is key in an energy monitoring solution. You’ll want to find one that combines your current usage information, the production data of your existing units and the most recent tariff pricing available from your utility provider to create a realistic forecast of your energy needs.

The software provider can host this solution on your backend to provide key stakeholders and decision makers with the information they need to make informed decisions moving forward. In some cases, you may be able to run future scenarios on your energy bill to predict cost changes that may occur through the implementation of new technology, processes, equipment and the like.

4. Smart Data Acquisition Measures

How can an energy application understand your building’s energy usage if it isn’t actively acquiring and tracking that data? Sophisticated solutions will include discreet yet powerful energy meters that professionals will install around your facility to tap into this knowledge.

From there, the data captured can be wirelessly communicated to their server, where it can be translated into detailed reports and analytical models.

5. Accessible Online Dashboard

To someone outside the energy industry, the data captured via these methods can be overwhelming and more than a little daunting to tackle. This is where a comprehensive, high-level dashboard can be critically helpful. Look for monitoring software that runs off this type of centralized database.

This way, when you log in to track your activity, you won’t be greeted with rows and columns of numbers that look like a different language. Instead, you’ll see a simple measure of your recent energy metrics, normally displayed in terms of kWh/unit output or energy price/unit output. You can usually customize these dashboards to display data from one facility, multiple locations or your entire operational reach as required.

6. Personalized Reporting Capabilities

Every company is different and so are its energy monitoring needs. The information that you need to measure and review won’t be exactly the same as the corporation down the street and as such, you’ll need access to customizable reports.

Find a solution that allows you to set your own Key Performance Indicators (KPIs), choose between measured or derived metrics and adjust findings per business division, team level, office location and more.

Finding an Energy Analytics Solution that Meets Your Needs

When seeking an energy analytics solution, keep in mind your unique business needs and use those as a foundation for further research. With so many advancements available today, the good news is there is no shortage of providers competing for your business.

Partner with the one that fits your requirements and reaps the benefits of achieving an in-depth look at your energy-related activities and ways to power your efforts more effectively. For more information on energy intelligence offerings, feel free to check out our building management services. In the meantime, contact us with any questions and let us help you future-proof your business today.