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Oracle Technologies Making Sense of Today's Smart Grid
When it comes to the smart grid, there has been an obvious “tug-of-war” between utilities and consumers, as these end-users demand more from their utility companies in better managing their energy intake, and utilities attempt to address this demand by implementing next-generation solutions and devices.
The way in which consumers as a whole view the electric grid has evolved, as it’s no longer solely about power consumption. Instead, the smart grid has positioned utilities to deliver their services in a manner that controls costs, enhances reliability and data management. And, when data is placed in the hands of utilities, it becomes useful, actionable information for today’s intelligent smart grid applications.
On the other hand, the smart grid is posing a challenge for utilities – for both ISVs and OEMs -- as they are now being forced to redesign traditional systems. And, as this automation comes to the forefront, the complexity in maintaining both data accuracy and quality is also becoming quite an obstacle.
As the smart grid pervades in the energy sector, the software to manage all the data being logged is also expected to go through an overhaul of its own. For example, meter data management systems – which are used to organize and make sense of energy data so it can be used in a wide variety of applications –are going to experience significant growth in the next few years. In fact, Pike Research (News - Alert) recently predicted that 98 percent of all smart meters in North America will be covered by a meter data management system, while Western Europe and East Asia will see 80 percent growth.
According to an analyst for Pike Research, “Meter data management systems will create a system of record that enables many departments of a utility to function more efficiently than ever before.”
This data can only become actionable once it’s streamlined with the array of applications currently in use by utilities, which is why companies like Oracle (News - Alert) Technologies are positioning themselves in the utilities market to help do so.
Tammy Wolf is a TMCnet web editor. She covers a wide range of topics, including IP communications and information technology. To read more of her articles, please visit her columnist page.
Edited by Stefanie Mosca