Ted Hopcroft, an energy expert at PA Consulting, in quoted in Utility Week's article discussing why companies need to have a clear vision of how to use smart meter technology to reap the benefits of smart data.
Ted says that availability of the data and knowing what to do with it once you have it remains a stumbling block, not to mention the intricacy of integrating SMETS1 and SMETS2 data. "Companies will need this composite integrated view to reap the benefits of smart data and for distribution network operators in particular, some critical mass of data will be required to deliver the potential benefits", he explains.
The article goes to says that smart meters are useless if providers do not utilise the data they provide in the right way. All organisations must have a clear understanding of what they want to achieve with the data, with a clear line of sight from their KPIs to the data provision. "They must avoid the trap of drowning in data or creating a function that generates endless graphs and dashboards showing things that are interesting to know but don’t drive business value", Ted says.
In brief, the potential of smart meter data remains largely untapped. Application of machine learning, which allows to analyse data at a much more granular level, presents a great opportunity. Ted concludes: "Anomaly detection can provide a great service to customers because it can also identify inefficient equipment and that which is likely to fail".