January 14, 2014

Unlock new business models to monetize machine data


As more devices get connected to the internet grid more machine data gets generated across smart meters, vehicle sensors, flow meters, boilers, chillers etc.  This  provides an unparalleled opportunity to create new business models which can unlock value from machine data. For example dynamic pricing based on usage of an asset is one monetization vehicle.  Also one could think of syndication of anonymised/aggregated device benchmarking data with an intent of becoming "Nielsen for Machine data" which provides trust worthy machine data performance characteristics across manufacturer and  event streams. Flutura intends to curate new machine data products and do rapid experimentation on pricing models with a view to intercept this opportunity

Take for example the Utility industry. The last 3 years have seen a paradigm shift in instrumenting more data points resulting in  a sudden data avalanche . It has been driven by  2 waves which are going to unleash a lot of data for Utility companies to make sense of. In the first wave as Smart meters proliferate, Utilities have to process data at 15 minute intervals which is a 3000 fold increase in daily data processing for a utility.  In the second wave as the number of SCADA devices which are metering energy flow throughout the grid - substations, transformers and other elements of the distribution systems increases there will be the next level of data explosion. The implications of the massive release of data from Utility grids has profound implications for the industry as it opens a huge set of possibilities to monetize grid data.

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