DCT and Denodo enable utility companies to gain a real time, end-to-end view of data across disparate sources, including smart meters, ISOs, generation units, external price sources, and exchanges, for real-time analytical insights in support of better, faster decisions.
The utility industry is going through major changes, as governments and companies across the globe are increasingly committing to renewable power sources. Moreover, improvement in electricity storage technologies and the advent of distributed energy sources (DERs), are going to further disrupt electricity usage patterns. Power and natural gas trading activities are grappling with lower prices, which means that traders are compelled to trade large volumes to make a small margin. Independent system operators (ISOs) are moving to a 5-minute settlement model, and new regulatory models continue to increase the complexity and cost of compliance. COVID-19 has further complicated the way everyone works, forcing us to become fully digital workplaces.
All the above business trends have led to an explosion of data and has changed the way we access data. Utilities need to be able to run analytics in real time, in order to make more informed decisions and react to market conditions more quickly. It is essential to be able to run what-if scenarios and advanced predictive analytics on data to accurately forecast business impacts to stay profitable in this competitive industry, and even survive. Read More!