Big data and AI in utilities

Utilities are significantly increasing data gathering and using external data sets for smarter capacity and investment planning. Everything from weather data to 3D modeling of networks and extraction sites is being gathered, combined with internal and historical data sets and used to inform, predict and plan a variety of business outcomes. While not cheap to obtain, data is being used to make informed decisions on everything from when to shut down power stations to avoid over-capacity in the market, to where to drill and how to manage fluctuating water supplies. For example, moves in several markets to deploy smart meters, capable of feeding back consumption data in near real time, provide a valuable data resource for energy companies. This flow of information--which can update as frequently as every 30 seconds--provides valuable insight into real-world energy consumption and can provide early warning of peaks in demand.