As a business, there’s no hiding from the fact that your energy usage is one of your biggest outgoings. And if the recent fluctuations in the energy market have got you thinking about closer monitoring your usage, it might be time to start thinking about energy analytics.
Aside from being able to clearly track how much energy you’re using and when, energy analytics tools can help make your business greener, detect anomalies in your usage and reduce your business energy bills. We’ve explored 4 benefits of business energy analytics and how they can help your business.
What is Business Energy Analytics?
You may have heard the term ‘energy analytics’ come up in conversations around energy management and reducing business costs, but what actually is ‘energy analytics’? Put simply, business energy analytics is the process of applying analytical models to energy data to provide stats and insights on your usage. Findings will be shown as a series of graphs and reports which can then be interrogated to identify areas of improvement, or report on the effectiveness of any energy efficiency projects.
How can Business Energy Analytics Benefit My Business?
Being able to quickly view insights on your energy usage in one place can really help you to keep track of consumption and make changes to reduce your business’s energy bills and carbon emissions. Here’s our top 4 benefits of using an analytics tool such as Yü Analytics.
1. Reduce Business Energy Costs
The less energy you use, the less it costs you. The concept is simple enough, but knowing when your consumption is highest and where cuts can be made, is where it gets a bit trickier. With an in-depth understanding of your energy usage, you can start to highlight any aspects of your energy spending that you can control. For example, are you using an unnecessary amount of energy during your non-operational times? Or maybe there’s something wrong with your heating system that’s causing a spike in consumption? By reviewing your energy reports in an analytics tool, you’ll be able to quickly see these issues and begin to put measures in place to reduce them.
2. Understand the Patterns
Have you ever wondered what times of the day your energy usage is at its highest? Is it at 9am when the coffee machines are constantly running? Or is it during afternoon meetings when screens and audio equipment come on in the conference room? By using an energy analytics tool, you’ll get a complete insight into when your business consumes the most energy. Starting from a general overview, you can drill down into particular days for in-depth insights and compare usage across different time periods. With this information, you can then make educated decisions on reducing consumption, such as when appliances can be turned off or run at different times.
3. Simplify the Data Sharing Process
With energy management becoming a focal point of discussion during strategic management meetings, conducting manual energy-related analysis is a norm for many business owners and facilities managers. It’s a time-consuming and laborious task. With business energy analytics, all of this is done for you. With a range of formats available to visualize your data, you can quickly share insights with the wider management team, allowing you to focus all your attention towards planning and running energy-saving projects.
4. Reduce Your Business’s Carbon Emissions
By implementing business energy analytics software, you can not only reduce costs to your business, but also protect the planet by reducing your carbon footprint. It’s estimated that in order to meet Net Zero by 2050, emissions from electricity need to decline by 55% by 2030. Conducting an analysis of your energy usage will allow you to pinpoint where you can conserve your energy and reduce your carbon emissions, helping you do your bit to help reach this target.
Start analysing your energy usage with Yü Analytics
Yü Analytics is our energy analytics software that helps business customers take control of their energy. Make more informed decisions on energy reduction efforts, with detailed insights into your energy consumption. With our easy-to-use software, you can quickly see areas of improvement and detect any anomalies. Find out more about Yü Analytics.