Company: FirstFuel Software
Source: Greentech Media
Swapnil Shah, CEO of FirstFuel, on how to make big data actionable in the built environment
In the past, energy was seen simply as an input that was hard to measure in detail and always ended in a high cost. That perception has changed, and energy is now an entity that is deeply understood and can be managed in a methodical way.
Much of what led to this shift in thinking is the big data movement. Data is more available, granular and affordable to store in large quantities. This opens all kinds of doors when it comes to analysis. Technology can be used to sift through reams of data to pull precise, customized findings far beyond what anyone has been able to do in the past.
The energy efficiency marketplace has seen this shift to data-driven insights reach an inflection point over the last few months, especially in the residential space. From Google’s $3.2 billion purchase of Nest Labs and the recent IPO filing of residential energy efficiency powerhouse Opower, to Box’s recent shift toward data-crunching and Oracle’s big buy of data management leader BlueKai, there is clear validation that this market is ripe for huge growth in data-driven solutions.
These companies have cracked the code on the value of data, understanding that the real value drivers lie beyond the data itself. It is now time to apply that same deep-data thinking to compel utilities, building owners and individual property managers to change their behavior and realize the huge energy savings potential in the commercial sector.