Smart energy management for industries refers to employing modern technologies to achieve efficient power consumption. Mostly, such solutions make good use of IIoT (Industrial Internet of Things), artificial intelligence (AI), and machine learning (ML) technology.
Today, we will discuss what you need to know about smart energy management for industries. It will give you a better idea of what it is, why it matters, and how Tantiv4 achieves it with its AI and ML-powered power analytics solution - MiDAS.
What You Need to Know About Smart Energy Management for Industries
The energy cost can average around 30 percent or more for most manufacturers. This is a huge chunk of their production costs, and bringing it down can significantly benefit their bottom line. However, it isn't always easy to do this.
Typical energy efficiency solutions for industries are expensive, ineffective, and do not make a huge impact on their bottom line. Smart energy management comes into play here. It offers industries effective and superior energy efficiency at lower than normal costs.
This is simply because of its use of advanced smart technologies like wireless IIoT sensors, cloud computing, AI, ML, data analytics, and more.
MiDAS from Tantiv4 is one such smart energy management solution for industries. It is a highly effective, low-cost, power analytics tool powered by AI and ML technologies. The actionable data and insights it offers industries can help them better manage their power consumption.
It can monitor power consumption in real-time, identify patterns and trends, and give the relevant technician or team actionable insights. Its powerful AI predictive analytics can help manufacturers take action for equipment maintenance before a breakdown or high power consumption.
How MiDAS Does It
MiDAS uses wireless sensors to feed equipment data to its server. This includes things like power consumption, temperatures, harmonics, and more. Then it uses this data to identify patterns and trends. Moreover, it can match this data against world benchmarks to reveal energy efficiency and productivity.
Ultimately, MiDAS offers real-time power analytics and reporting on its AI-powered, highly interactive dashboard. Furthermore, MiDAS is capable of notifying and alerting the relevant technician or team regarding any irregularities or maintenance issues.
It can even help identify the source of the problem that is negatively affecting your energy efficiency or productivity. MiDAS offers easy-to-understand reporting thanks to its excellent visualization and AI-powered natural language capabilities, making interactions incredibly smooth.
In short, MiDAS is the latest, most efficient smart energy management solution for industries today, but it doesn't end there. Tantiv4 understands that the initial costs of smart energy management for industries can be high. Hence, they offer MiDAS in a SaaS (Software as a Service) model.
Manufacturers don't have to pay for the hardware, software, or maintenance because they only pay for the services of MiDAS.
Conclusion
While it isn't easy to implement energy efficiency for industries, with smart energy management solutions like MiDAS, manufacturers can improve their power consumption and bottom line to get a competitive edge in the market.
They can reduce their utility costs, production costs, and carbon footprint with the benefits of a power analytics solution like MiDAS. We highly recommend requesting a demo for MiDAS and experiencing the best smart energy management for industries today.