Energy Thought Summit PanelMay 15th, 2017 by Energyworx
Last month, the Energyworx team headed to Austin, TX to meet with Energy leaders from forward thinking Utilities and Retailers. Our Founder and Chief Visionary Officer, Edwin Poot participated in the panel conversation “Designing for Data // The Data Quality Foundation” where he shared our experience in gaining value from diverse datasets.
Designing for Data // The Data Quality Foundation
Despite the promise of data and analytics for utilities, analytics still suffer from bad data. By designing a data quality-focused foundation, an organization can better deliver the more advanced analytics needed to deal with changes in the utility industry—from increasing customer transactions to greater grid intelligence to more distributed energy resources. With increasing competition, retailers and utilities require data and predictions they can trust. But what’s the best approach? And what factors should organizations be considering?
Erin Hardick – Research Analyst, Zpryme [Moderator]
Edwin Poot – Founder, Energyworx
Matthew Spilman – Market Operations, Direct Energy
Cherie Fuller – Vice President Retail, EDF Energy Services
Key Quotes from the Panel
“The key aspects of data quality lie in metrics and understanding the quality during the entire process.”
-Edwin Poot on scoring data throughout the lifecycle of a dataset to benchmark quality, assess its impact and identify opportunities for improvements.
“What if energy will be free? How will you make your money as an Energy Retailer?”
– Edwin Poot on the need for retailers to shift from commodity driven business models to data-driven service models.
“We’re an energy company but we’re becoming more of a technology company too.”
– Matt Spilman on shifting business models and keeping up with disruptors.
“We’re trying to build this digital platform that enables our entire customer base…to have access to data as well as for [EDF] to utilize that data to manage the business.”
– Cherie Fuller on the next steps for digitalization and data exchange for EDF.
“It’s a utopia to think you can have one platform that does it all. It’s more how you integrate those systems in such a way that it becomes standardized and easy-to-use from a universal standpoint.”
-Edwin Poot on dealing with legacy systems and incorporating new technologies and analytics platforms.
How is data quality impacting your organization? Contact us to learn the benefits of controlling data quality throughout the entire workflow.