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Big data and analytics underscores energy’s future

April 02, 2020 / WILLIAM GIRLING
SHARESHARESHARE

The study, called ‘Global Big Data Analytics in the Energy Sector Market’, offers a comprehensive analysis of the industry, from regional markets to the technologies being explored and their broader appeal for widespread adoption.Defined as the large volumes of accumulated information gathered from myriad sources within an organisation, big data’s value, particularly when unlocked by analytics software, has become a primary focus for companies seeking an easy way to optimise.It is, perhaps, unsurprising that the harbinger for change in the energy sector has been the industry shift towards renewable forms of energy (solar, wind, hydroelectric, nuclear, etc). As old paradigms are replaced, corporations need data to forecast the market’s future.Moreover, the recent drop in the price of fossil fuels like oil has invigorated alternative energy projects globally. This increased amount of equipment, such as wind turbines or solar PV panels, will require further IoT and...