{"id":29067,"date":"2022-04-19T06:00:00","date_gmt":"2022-04-19T13:00:00","guid":{"rendered":"https:\/\/insidebigdata.com\/?p=29067"},"modified":"2022-04-20T08:51:43","modified_gmt":"2022-04-20T15:51:43","slug":"insidebigdata-guide-to-energy","status":"publish","type":"post","link":"https:\/\/insidebigdata.com\/2022\/04\/19\/insidebigdata-guide-to-energy\/","title":{"rendered":"insideBIGDATA Guide to Energy"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><em>Sponsored Post<\/em><\/p>\n\n\n\n<p><strong>Introduction<\/strong><\/p>\n\n\n\n<p>The energy industry has always faced large price swings as a result of changes in the  global economy. But today, this entire sector is facing an unprecedented level of  disruption. Industry analysts say it is in the throes of a dramatic upheaval that is requiring companies in this industry to reinvent themselves.<\/p>\n\n\n\n<p>For example, Gartner recently warned, \u201cOil and gas CIOs face a chaotic and confusing  business environment that is likely to continue through the next decade.\u201d They added,  \u201cThe period between 2020 and 2030 will emerge as the \u2018decade of deep redesign\u2019 because all oil and gas companies will need to make significant changes in their investments and  operations.\u201d<\/p>\n\n\n\n<p>To navigate this period of intense uncertainty, many energy executives are looking to big  data analytics to point the way. According to Mordor Intelligence, \u201cThe big data analytics  market in energy sector is expected to grow at a CAGR of 11.28%, during the forecast  period, 2021-2026. Big data analytics play a crucial role in reducing energy consumption and improving energy efficiency in the energy sector.\u201d<\/p>\n\n\n\n<p>This paper, &#8220;<a href=\"https:\/\/insidebigdata.tradepub.com\/c\/pubRD.mpl?secure=1&amp;sr=pp&amp;_t=pp:&amp;qf=w_dell235&amp;ch=\" target=\"_blank\" rel=\"noreferrer noopener\">insideBIGDATA Guide to Energy<\/a>,&#8221; will:<\/p>\n\n\n\n<ul><li>Take a closer look at some of the biggest disruptors affecting energy companies<\/li><li>Examine how big data analytics can help these firms reduce risk, drive down costs, and improve efficiency.<\/li><\/ul>\n\n\n\n<p><strong>Current Energy Industry Disruptors<\/strong><\/p>\n\n\n\n<p>Part of what is making this period of time so difficult for energy companies is that the disruption is coming from multiple directions at once. Some of the biggest sources of this  disruption include the following:<\/p>\n\n\n\n<p><em>Climate change<\/em><\/p>\n\n\n\n<p>Global climate change is affecting energy companies in at least three significant ways.<\/p>\n\n\n\n<p><span style=\"text-decoration: underline;\">Weather patterns<\/span><\/p>\n\n\n\n<p>First, changes in weather patterns are altering energy demand and hindering the ability of  the energy sector to meet that demand. In recent years, extreme weather events and  natural disasters have become much more common. <a href=\"https:\/\/public.wmo.int\/en\/media\/press-release\/weather-related-disasters-increase-over-past-50-years-causing-more-damage-fewer\" target=\"_blank\" rel=\"noreferrer noopener\">The World Meteorological  Organization reported<\/a>, \u201cA disaster related to a weather, climate or water hazard occurred  every day on average over the past 50 years\u2014killing 115 people and causing US$ 202 million in losses daily. . . .The number of disasters has increased by a factor of five over the 50-year period, driven by climate change, more extreme weather and improved reporting.\u201d<\/p>\n\n\n\n<p>In the United States, examples of this extreme weather include the California drought and  wildfires that made it difficult for grid operators to get power to their customers. And on the opposite end of the spectrum were the 2021 winter storms in Texas that drove  demand to unprecedented heights and nearly caused the grid to fail.<\/p>\n\n\n\n<p><span style=\"text-decoration: underline;\">Regulation<\/span><\/p>\n\n\n\n<p>Second, not only do energy companies need to deal with direct impacts from climate  change, they also must comply with increasing regulation as governments attempt to  reduce greenhouse gas emissions and mitigate global warming. Agencies around the  globe have set ambitious targets that energy companies must meet if they want to stay in business. Recognizing their role in this crisis, many energy companies are challenging  themselves to exceed those deadlines.<\/p>\n\n\n\n<p><span style=\"text-decoration: underline;\">Alternative energy investment<\/span><\/p>\n\n\n\n<p>And that leads to the third big impact of climate change\u2014investment in alternative  energy. According to Deloitte, \u201cRenewable energy growth is poised to accelerate in 2022,  as concern for climate change and support for environmental, social, and governance  (ESG) considerations grow and demand for cleaner energy sources from most market  segments accelerates. At the same time, the Biden administration\u2019s vision to fully  decarbonize the US economy is helping spur activity in the renewable sector that will  likely drive further growth\u2014particularly if proposed legislation is enacted.\u201d Companies are racing to develop solar, wind, hydropower, and other clean energy. While this new  development represents a significant opportunity, it also requires energy companies to radically transform themselves.<\/p>\n\n\n\n<p><em>New technologies<\/em><\/p>\n\n\n\n<p>At the same time that energy companies are developing alternative energy to help them  respond to climate change, they also face the challenge of integrating other new  technologies into their organizations if they want to remain competitive.<\/p>\n\n\n\n<p>Digital transformation has affected every industry, and the energy sector is no exception.  Companies of all kinds are looking for ways to do more business online and to become  more data driven. Every firm in the energy industry knows that its competitors are using  technology to become more efficient and responsive to customers, and they have to do  the same if they want to keep up.<\/p>\n\n\n\n<p>In addition, technology trends like the Internet of Things (IoT), smart grids, and smart  cities are changing the marketplace. Energy companies have more data at their fingertips  than ever before.<\/p>\n\n\n\n<p>As the U.S. Department of Energy noted, the electric industry sector is facing an  \u201cexplosion\u201d of data coming from a variety of sources. Some examples include:<\/p>\n\n\n\n<ul><li>Field measurements: smart meters, synchrophasors, smart sensors<\/li><li>Weather measurements: ground stations, radar, satellite, and specialized systems  such as the National Lightning Detection Network<\/li><li>Asset monitoring: embedded sensors for condition-based monitoring<\/li><li>Distributed generation data, data about electric vehicle charging, customer-driven data: Internet of Things devices, smart meters, demand response devices<\/li><li>Other important data sources for outage management: animal migration, vegetation management, fire detection, and water and gas management.<\/li><\/ul>\n\n\n\n<p>This data explosion provides companies with valuable information that can help them  improve their business, but the technologies themselves also drive up demand, requiring firms to invest in new infrastructure to meet this demand.<\/p>\n\n\n\n<p><em>International conflict<\/em><\/p>\n\n\n\n<p>Because the energy market is a global market, what happens in one relatively small  country can have a huge impact on worldwide energy prices. Conflicts, like the war in  Ukraine, can drive up prices for gasoline, natural gas, and electricity. They can also disrupt the energy supply and transmission.<\/p>\n\n\n\n<p>In addition, energy facilities can themselves become military targets\u2014of both physical  attacks and cyberattacks. Responding to these kinds of threats can pose an existential  threat to energy companies.<\/p>\n\n\n\n<p><em>COVID-19<\/em><\/p>\n\n\n\n<p>As if all that weren\u2019t enough, energy companies are still dealing with the fallout from the  global pandemic. During the COVID-19 crisis, energy companies have experienced the  same supply disruptions that companies in other industries faced. Getting the equipment and parts necessary to build and maintain infrastructure has been challenging for many  organizations. And as business managers are well aware, the pandemic also led to talent  shortages. Many of the jobs in the energy industry are physically challenging\u2014sometimes  even hazardous. During the pandemic many workers re-considered their previous career  choices and moved on to other organizations, leaving their employers scrambling to keep the lights on\u2014sometimes quite literally.<\/p>\n\n\n\n<p><em>Competition<\/em><\/p>\n\n\n\n<p>The deregulation of the 1980s and 1990s led to a much more competitive marketplace,  which continues to be the norm today. Customers have more options, leading to much  higher churn as customers seek out the best deal. And the switch toward alternative  energy is attracting many startups, which has only increased the level of competition.<\/p>\n\n\n\n<p>Energy companies simply cannot continue doing things the same way they always have if  they want to remain competitive.<\/p>\n\n\n\n<p><em>Cost of exploration<\/em><\/p>\n\n\n\n<p>Another ongoing challenge is the increasingly high cost of obtaining gas and oil. The  process of oil and gas exploration is not cheap. If a particular well doesn\u2019t pan out,  companies face significant losses.<\/p>\n\n\n\n<p>In addition, energy companies have already tapped into most of the natural reserves that are \u201ceasy\u201d to extract. While natural resources are still extensive, obtaining them isn\u2019t  always cost effective. Companies may have to drill deeper, in less hospitable environments than they have been in before. And in some cases, they have needed to develop new  technologies to be able to tap those reserves.<\/p>\n\n\n\n<p>Energy companies need every advantage they can find when the risks are this high and  the competition this intense.<\/p>\n\n\n\n<p>Over the next couple of weeks we\u2019ll explore these topics:<\/p>\n\n\n\n<ul><li>Introduction; Current energy industry disruptors<\/li><li>13 ways big data can improve efficiency and drive down costs in the energy industry; Looking ahead<\/li><\/ul>\n\n\n\n<p><em>Download the complete&nbsp;<a href=\"https:\/\/insidebigdata.tradepub.com\/c\/pubRD.mpl?secure=1&amp;sr=pp&amp;_t=pp:&amp;qf=w_dell235&amp;ch=\" target=\"_blank\" rel=\"noreferrer noopener\">insideBIGDATA Guide to Energy<\/a> technology guide courtesy of Dell Technologies and AMD.&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This special technology guide from Dell Technologies and AMD will take a closer look at some of the biggest disruptors affecting energy companies, and also examine how big data analytics can help these firms reduce risk, drive down costs, and improve efficiency. The energy industry has always faced large price swings as a result of changes in the  global economy. But today, this entire sector is facing an unprecedented level of  disruption. Industry analysts say it is in the throes of a dramatic upheaval that is requiring companies in this industry to reinvent themselves.<\/p>\n","protected":false},"author":10513,"featured_media":29024,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[115,62,63,64,185,87,180,56,311,1,58],"tags":[1037,1036,763,679,372,95],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>insideBIGDATA Guide to Energy - insideBIGDATA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebigdata.com\/2022\/04\/19\/insidebigdata-guide-to-energy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"insideBIGDATA Guide to Energy - insideBIGDATA\" \/>\n<meta property=\"og:description\" content=\"This special technology guide from Dell Technologies and AMD will take a closer look at some of the biggest disruptors affecting energy companies, and also examine how big data analytics can help these firms reduce risk, drive down costs, and improve efficiency. The energy industry has always faced large price swings as a result of changes in the global economy. But today, this entire sector is facing an unprecedented level of disruption. Industry analysts say it is in the throes of a dramatic upheaval that is requiring companies in this industry to reinvent themselves.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insidebigdata.com\/2022\/04\/19\/insidebigdata-guide-to-energy\/\" \/>\n<meta property=\"og:site_name\" content=\"insideBIGDATA\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/insidebigdata\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-19T13:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-20T15:51:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebigdata.com\/wp-content\/uploads\/2022\/04\/IBD-Dell-Tech-Guide-Energy-Cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1586\" \/>\n\t<meta property=\"og:image:height\" content=\"2000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editorial Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@insideBigData\" \/>\n<meta name=\"twitter:site\" content=\"@insideBigData\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editorial Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebigdata.com\/2022\/04\/19\/insidebigdata-guide-to-energy\/\",\"url\":\"https:\/\/insidebigdata.com\/2022\/04\/19\/insidebigdata-guide-to-energy\/\",\"name\":\"insideBIGDATA Guide to Energy - insideBIGDATA\",\"isPartOf\":{\"@id\":\"https:\/\/insidebigdata.com\/#website\"},\"datePublished\":\"2022-04-19T13:00:00+00:00\",\"dateModified\":\"2022-04-20T15:51:43+00:00\",\"author\":{\"@id\":\"https:\/\/insidebigdata.com\/#\/schema\/person\/2949e412c144601cdbcc803bd234e1b9\"},\"breadcrumb\":{\"@id\":\"https:\/\/insidebigdata.com\/2022\/04\/19\/insidebigdata-guide-to-energy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insidebigdata.com\/2022\/04\/19\/insidebigdata-guide-to-energy\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/insidebigdata.com\/2022\/04\/19\/insidebigdata-guide-to-energy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/insidebigdata.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"insideBIGDATA Guide to Energy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insidebigdata.com\/#website\",\"url\":\"https:\/\/insidebigdata.com\/\",\"name\":\"insideBIGDATA\",\"description\":\"Your Source for AI, Data Science, Deep Learning &amp; Machine Learning Strategies\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insidebigdata.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/insidebigdata.com\/#\/schema\/person\/2949e412c144601cdbcc803bd234e1b9\",\"name\":\"Editorial Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebigdata.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e137ce7ea40e38bd4d25bb7860cfe3e4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e137ce7ea40e38bd4d25bb7860cfe3e4?s=96&d=mm&r=g\",\"caption\":\"Editorial Team\"},\"sameAs\":[\"http:\/\/www.insidebigdata.com\"],\"url\":\"https:\/\/insidebigdata.com\/author\/editorial\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"insideBIGDATA Guide to Energy - insideBIGDATA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insidebigdata.com\/2022\/04\/19\/insidebigdata-guide-to-energy\/","og_locale":"en_US","og_type":"article","og_title":"insideBIGDATA Guide to Energy - insideBIGDATA","og_description":"This special technology guide from Dell Technologies and AMD will take a closer look at some of the biggest disruptors affecting energy companies, and also examine how big data analytics can help these firms reduce risk, drive down costs, and improve efficiency. 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