Smart grid analytics ROI to exceed $121.8 billion globally by 2020
SAS ranks No. 1 for smart grid analytics, smart grid data management
Utilities worldwide must maximize efficiency for constrained energy resources. Many are realizing the smart grid vision by using SAS® Analytics and SAS Data Management to discover powerful insights buried in volumes of new data. SAS enables utilities to harness data for pinpoint control and monitoring, usage and demand forecasting, rapid diagnosis and repair, as well as predicting output from renewable sources such as solar and wind. For those capabilities, business analytics leader SAS is ranked No. 1 for smart grid analytics and data management/movement in the recently released utility industry report, The Soft Grid 2013-2020: Big Data & Utility Analytics for the Smart Grid, by GTM Research.
In addition to trends and predictions for the soft grid, the report forecasts that cumulative global spending on smart-grid-related analytics will top $20.6 billion between 2012 and 2020, with annual spend reaching $3.8 billion globally in 2020. The group estimates that, for utilities deploying these technologies, the achieved return on investment will exceed $121.8 billion globally over the same time period. Explore this white paper, High-Performance Analytics for the Smart Grid, to see how utilities overcome barriers.
Utilities use SAS® Analytics to increase energy efficiency
According to the report, SAS data analytics software lets utilities track, visualize and predict demand: "When it comes to the true next-gen analytics that represent the focus of this report, SAS remains head-and-shoulders above the other major software giants."
"This is a transformational time for the utilities industry. Leaders are successfully analyzing a wealth of big data they produce to realize the efficiencies and savings of a more intelligent grid," said Tim Fairchild, SAS Global Utilities Practice Director. "Powerful SAS Analytics, coupled with the innovation and leadership of SAS' utilities customers, is helping make smart grid a reality."
SAS for Utilities enables companies to create intelligence from disparate data sources and deliver information for effective decision making across the enterprise. Energy and utility leaders around the world rely on the power of SAS to deliver the analysis, forecasts, and energy trading and risk management systems to effectively work the supply-demand equations that dominate their business while complying with regulator demands for increasing utility interaction with customers.
SAS is the leader in analytics. Through innovative analytics, business intelligence and data management software and services, SAS helps customers at more than 83,000 sites make better decisions faster. Since 1976, SAS has been giving customers around the world THE POWER TO KNOWÂ®.