According to energy industry experts, companies can accelerate their Return on Investment (ROI) through data analysis tools, even without previous knowledge in programming.
Data Analysis benefits
At the “Emerson Exchange Virtual Series” event, the company presented its Plantweb Optics Analytics software, sharing its perspectives regarding the data analysis benefits for several users (industrial and commercial).
According to the experts, accessible and user-friendly analytics tools help to a rapid execution and ROI’s acceleration in different projects.
For the energy sector’s case, companies like Emerson provide accessible platforms regarding data analysis. Panelists agreed their services can contribute to an ROI’s acceleration for their clients.
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Therefore, some of the advantages of using data analysis tools are: reduce downtime, identify problems before they occur, get to the problems’ root causes, opportunistic maintenance, operating efficiency, real-time analysis, among others.
Also, participants shared that quick analytics and data cleaning and exporting tools allow companies to disclose their results online safely, simple, and accessible.
The latter situation can lead to an acceleration in ROI due to the process’s speed, experts agreed. Besides, data analysis for clients in the energy sector can apply in different activities such as monitoring, management, and optimization.
Benefits for the energy sector
Participants observed data analytics tools also lead to energy consumption costs reductions.
These reductions can be made through equipment consumption monitoring, operation modes detection, objectives adjustment, isolation of the possible root causes, and tools optimization.
Representants of Emerson highlighted data analysis leads companies to share their data with operators, engineers, asset managers, among other sector’s agents.
They added that, through reporting and opportunistic data analysis implementation, decision-making regarding production and management could be much more informed.
For instance, through quick analytics, the company offers a solution to clean data from utility databases.
After that, Emerson’s software helps users to import images and create equation curves from that data.
Last, through columns, the company’s tool cleans the data interrogating it visually.
In that sense, this Plantweb’s tool provides its users access to sophisticated algorithms (for instance, through the Neural Network gadget that includes six different algorithms for users to apply their data).
Furthermore, the company looks to provide its users with standard-essential tools required in analytics projects, create models quickly with statistics, and generate actual and predictive data.
Plantweb lets its users export their data models for online use. The company also offers smart equipment templates for assets (electric generators, motors, heat exchangers, steam turbines, compressors).
Experts also shared their recommendations for those users interested in adopting data analysis for an acceleration in their ROI.
According to the ponent, the first step is to gather information related to the utility’s management history; then, look after costs and profits, and identify where optimizations can be implemented; finally, analyze the analytics results.
Finally, the participants concluded that their software should be accessible for everyone despite being very sophisticated tools.