- 28 Jun
What’s the value of information?
Energent has a suite of software that measures, analyzes, and reports on real-time energy consumption for hospitals, commercial buildings, and industrial clients. During our engagement process, we often are asked “What exactly does your system do?” It doesn’t close valves, turn off lights, or turn down your air conditioner. What it does do is give your team the information it needs to make smart energy management decisions and report on the impact that those decisions had on the organization.
When we talk about the value of information to our clients and prospects, we break it down into 3 areas:
1. Concrete evidence
2. Business planning and prediction
3. Less information, better information
Information can give you evidence that something happened, and accurately quantify that event. In our case, we provide real-time evidence that energy is being over consumed and by how much. Sometimes this is done using billing data and is usually 6-8 weeks behind. In real-time monitoring, we can provide this information same day or next day, saving thousands of dollars if energy is being wasted because of a broken valve or leaking tank. This information is inrefutable as we are collecting this info directly from the meter with no ‘middle man’.
There is significant value is reducing energy waste for all industries.
Business Planning and Prediction
How many times have you heard that before the company invests in a captial project, infrastructure, etc., it must see an ROI within xx months. Using comprehensive mathematical modeling, we can accurately predict when that ROI will be achieved using real data. No more guessing. The information is provided and leadership can make a decision about capital projects and retrofits.
There is significant value in adding a layer of confidence to business planning.
Less Information, Better Information
Facility managers may have to review 20 reports every day or every week to keep track of their numerous systems, controls, and machines. More often than not, these reports are ignored by the facility manager because it is simply too time consuming to review these reports for the 1 or 2 pieces of information they need to make decisions.
For us, we often see our clients use the reporting tool to consolidate all of the other reports into 3-4 key pieces of information that they can quickly digest and move on.
No longer is more information better. Better information is more valuable.
What are your thoughts on the value of information? Do people over-sell the value?
Thanks for reading