Business analytics can play an increasingly important role in academia these days. Recently we heard about how business intelligence could be used to locate students in need of further assistance by mining data on lecture attendance and course performance. This week we see a press announcement detailing how Canada’s McMaster University is using business analytics to make its buildings greener.
So how exactly does the technology help reduce operating costs and cut greenhouse gas emissions?
On the one hand, a series of sensors, actuators and meters collect real-time data on energy consumption and temperature levels. When combined with dynamic-pricing data, this can give an accurate reading of exactly how much it costs to use a certain amount of energy at a certain time of day.
What can McMaster do with all this information?
- Assess how much given building is costing them to run
- Track energy usage and cost across the whole campus
- Forecast what future costs and usage will be based on past performance
- Simulate different environments and scenarios to understand more about energy usage and cost under different climate conditions
- Optimize energy consumption based on the forecasts and simulations
Looking across the 60 campus buildings, the system will be able to identify under-performing buildings and the causes of energy inefficiencies. With the help of IBM Business Analytics technologies, McMaster will improve its decision making process and raise the bar for sustainable, cost-saving building management practices.