What Dash Energy is Doing To Address Dark Data in Energy
Previously, we talked about what dark data means, and what its implications are for the energy industry. We also discussed the current state of dark data in energy, as well as possible solutions for its uses in energy efficiency and demand response. Now, let’s directly discuss what Dash is doing to tackle the problems with dark energy data — and how our solutions help bridge the gap between the multiple players in the industry.
Energy’s Dark Data Problem
Part of the reason for the challenges with energy data is that so much of it is unstructured and unorganized. There’s no single database for energy data that is easily queried and indexable. That means when data is generated in different forms from either utilities, suppliers, consumers, or businesses, the onus is on energy professionals to manually sift through the data and extract what they need. This process is painstaking and time-intensive. What’s more, manual processes open the door for simple human error.
Take energy pricing data, for example. Comparing prices is useful for both energy brokers and their clients. But when prices come with different contractual terms from different suppliers, brokers need to go through the added step of reviewing contracts and the details of pricing options to avoid putting their customers in the wrong deal.
Oftentimes, the more detailed information about a client’s profile also gets overlooked for the simple fact that access to it can be cumbersome. High level consumption data might be easily available but this often isn’t enough for a truly customized detail. Often the best cost-savings opportunities for a business reveal themselves when sifting through granular cost data or understanding the processes of a client’s daily operations to find ways to improve energy management. While this data is extremely valuable, it is hard to discover quickly and to manage.
Thus, the leveraging of innovative technology to aggregate all of this dispersed data and unlock its value is necessary for the energy industry’s evolution as a whole.
The Dash Energy Solution
Having a directive that enables automatic data structuring is key to solving energy’s dark data problem. That’s why Dash Energy is working to leverage powerful machine learning technology that not only knows how to locate data, but also how to extract, organize, and analyze it for deeper insights and more efficient deal flows.
The Dash Energy platform is powered by its proprietary artificial intelligence technology, called SmartScan, that unifies data from various sources. Teaching the AI system to recognize various document types, as well as how to correctly label the type of data in those documents, enables the system to automatically pull necessary data from disparate sources at the click of a button.
This removes the need for manual data entry altogether. Dash also works closely with brokers and suppliers to gain understanding of their documents and labeling systems and translates that knowledge into training for our software meaning the machine learning system essentially gets smarter with each piece of new information it receives.
Automated data structuring empowers brokers to extract value from their documents in a more efficient manner than ever before. Brokers who aren’t spending hours manually logging data get more contracts out the door, faster, and without risk of human error.
Take pricing data again, for example. SmartScan technology automatically pulls pricing information from supplier documents and populates a centralized pricing report with that data, enabling brokers to make easy, apples to apples comparisons without the need for extra analysis. Brokers save time and energy, and clients get the results they need, quickly and efficiently.
In the near future, the Dash platform will be able to extract energy data from any source, like smart devices and internal software businesses use, to aggregate with the data collected today. As an industry, having the capability to analyze energy data from end to end, from distribution to end consumer usage can be a game-changer. This would ultimately allow energy consultants and businesses to make smarter decisions and eventually more sustainable ones.
Leveraging artificial intelligence and machine learning technology, Dash is working to meet the rapidly expanding needs of the energy industry. Inefficient data processing and the existence of dark data pose significant challenges to energy professionals. Communication between brokers and suppliers is hampered by inefficient platforms and non-standardized data formatting. Armed with the right tools, however, energy brokers, suppliers, and businesses alike can leverage data for more efficient deals and push the boundaries of their business to new heights.
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