Last Friday, key energy market players in Belgium were invited by Elia to debate about the impact of new technologies and digitalization on the energy market. Different panel discussions were organized around many topics such as how does blockchain find its way in the energy sector ? how new technologies could bring values ? will Big Data disrupt the energy sector ? …
N-SIDE, represented by Olivier Devolder, had the honor, as panel member to debate about “Will Big Data transform the Energy Sector?”.
To explain the impact of the Big Data on the energy sector, Olivier structured his talk around three main questions :
- Has the energy sector a high degree of complexity ? Does it lead to take complex decisions in real time with a high degree of uncertainty ?
- In which extend, data are available in the energy system?
- Are there existing algorithms available to optimize complex decisions in a changing environment?
The answers on those three questions are quite simple and of course Yes! In fact, the challenge remains more in the way to leverage the value behind the data in order to optimize your decisions in a complex market environment.
Based on advanced analytics techniques such as machine learning, deep learning… and on business expertise, N-SIDE is able to develop accurate tools to help energy market players like TSO, DSO and Power Exchanges but also industrial players to solve their challenges to be ahead of the game.
At the end of the day, Elia gave a word about its latest report on Dynamic Dimensioning of Reserves. Great moment for N-SIDE as we worked in collaboration with Elia to develop this new methodology.
Would you like to know more about Dynamic Dimensioning of Reserves? Read our latest blog post related to Elia.