The top 4 business benefits of energy data analysis

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For many businesses, energy costs are a given. For smart businesses, however, energy portfolios present opportunities for great savings – generating cash which can be re-invested in business growth.

Understanding consumption is critical to identifying areas for potential savings. The benefits of using energy data analysis tools such as Dataview from Smarter Business include:

1. Saving time is saving money. Using a comprehensive, fully managed reporting tool means you can set your objectives and get the required feedback on one platform geared to streamline assimilation of information. Business owners rarely have the time or resources to invest in understanding, monitoring, and reporting on energy data so it makes sense to use a reporting tool as part of your energy management strategy.

2. Adjust your usage to suit your strategy.By getting a complete picture of your spending, you are able to review historical data to inform your future energy portfolio and assess costs between peak and low periods and adjust usage where possible, shifting the load during red periods of consumption. By receiving a range of reports across multiple sites, you can replicate those facilities with the lowest energy cost and determine optimal supply capacity for ongoing future success.

3. Remove financial guesswork. Data analysis and reporting give businesses the added advantage of prediction and alerts. Plan your business expenses by creating invoice estimations, avoid penalty charges by staying in the know about your usage, and get alerts on changing portfolio patterns as they happen to avoid nasty surprises on your invoices and to engage all of your site managers on energy consumption. 

4. Tariff and invoice policing. Data analysis can play a central role in ensuring the accuracy of your billing. The information generated through reporting has the power to reveal that you are on the incorrect or an undesirable tariff and also assists in validation and verification. This key information stands to assist energy brokers in conducting supplier dispute resolutions on your behalf and rectifying any errors which may have taken place in the billing process.

Looking into the world of energy data analysis for your business? Energy broker Smarter Business has developed its Dataview platform to assist businesses with this task. Contact Smarter Business today for a Dataview demonstration and to find out more about the role it can play in your business’s energy management strategy. 

https://smarterbusiness.co.uk/bmm/

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