Meter data analytics becoming the need for utilities along with MDM
MDMS (Meter Data Management systems), is an integral part of the meter to cash process that enables smart grid. Core functionalities of Meter Data Management Systems are data validation, storage/management of data, and provision to share data with external systems like outage management, billing, Distribution management etc.
Extracting maximum value out of the huge data present in MDM (Meter Data Management System) is a challenge and needs correlation and analysis. Hence Meter Data Analytics is required and it plays a key role in the business of utilities, as it can help increase operational efficiency by analyzing consumption trends, theft detection, revenue protection, better decision making, event analysis etc. The Utility industry community is rapidly enhancing its focus on analytics driven approach which will help to identify the problem areas by analyzing the meter data. Meter data Management market is transforming into an analytics focused market thereby vendors are also aligning on similar tracks to keep their existence in market. I believe that there should be a separate system for analytics purpose so that it will not hinder the core functionality of Meter Data Management Systems.
Meter data analytics will help utilities to achieve maximum benefit with primary source of information being Meter Data Management System. This will help utility in:
· Analysis of consumption trends.
· Analysis of asset performance so that it will help in selecting right vendor while purchasing meter and related assets.
· Identifying the theft and unbilled revenue by analyzing tamper events that will reduces losses for utilities.
· Outage event analysis that help to pin point the exact problem areas in the distribution network.
· Analyze irregularities in meter data reading that will help in providing quality data.
With the changing utility market Meter Data Management Systems vendors will have to think how they can provide a strong foundation for this analytics. Utilities also need to be careful while selecting Meter Data Management Systems, as it has to be a product which seamlessly integrates with any kind of analytics software.