DataFlux provides Northern Virginia Electric Cooperative data at right place, right time

The Northern Virginia Electric Cooperative (NOVEC) has selected DataFlux to transform its data into a strategic asset, enabling economic and customer load forecasting and driving new power supply strategy initiatives.

"The amount of data that is available for decision-makers is increasing at a rapid pace, and for any enterprise, the axiom that 'more is better' is not true if the data arriving is inconsistent or inaccurate," Daniel Teachey, Senior Marketing Director for DataFlux said in an interview with FierceEnergy. "If not properly managed, data leads to confusion about what services to provide, which customers are the most valuable and how to improve business efficiencies."

It is critical for utilities to have the right power supply strategy to make sure that the supply is available at the right time and the right place. Data about usage, supply, weather, land use, rates and customers must be rationalized and integrated to make informed decisions on usage patterns and power purchasing.  NOVEC decided to implement a strategic data management program--which uses data quality and data integration technologies to examine data as it arrives--to improve information according to internal standards and place controls on data integrity over time.

The biggest change for a utility company is the ability to access more relevant and accurate information across their organization. Often, organizations only have visibility into silos of data. But there may still be little collaboration across business units or business applications because the data is self-contained and lacks a universal set of standards. With a comprehensive data management strategy, utility executives can deliver a more accurate pool of data across data sources to enable more accurate forecasting initiatives. By understanding and predicting power demand, utilities can optimize processes and maximize efficiencies.  This can be passed on to customers in terms of consistent service and lower rates.

In the past, utilities treated data as a by-product of the business applications that run their business. "The IT teams, as owners of the applications, became de facto owners of the data," said Teachey. "Although information is the foundation for business decisions, line of business managers traditionally had little insight into the collection and management of corporate data. Data management efforts establish line of business staff as an equity partner with IT in the process of creating data that is accurate, reliable and fit for purpose."

The technologies are now available to allow IT and business staffs to collaborate on data improvement efforts, helping the data more accurately reflect the needs of the entire enterprise.

Data management technology is becoming more vital as data begins to expand in size and scope. With each next-generation initiative, a company runs the risk of creating a new, disconnected pool of information that may or may not meet the business standards of the organizations.  A data management strategy creates a single set of rules that can be applied across the organization, creating a more universal view of data, regardless of the originating application. 

For more:
- see this release

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