In most industries, theft and fraud result in huge revenue losses and increased exposure to risks, but it does not end here in the utilities industry. Utilities fraud and energy theft is not just about the lost revenues or drain on the energy grid but much more because it is considered an illegal act. Tampering with energy equipment such as smart meters, transmission pipes, and wires are hazardous since it exposes people to the risk of electric shocks and explosions, leading to a catastrophic impact on different business areas.
Recent advances in technological, combined with rapidly expanding data volumes, open the door to new possibilities within the utilities industry empowering businesses to detect and prevent such occurrences. Quantzig’s energy theft and fraud analytics solutions is a suite of advanced tech-driven solutions that support utilities companies in the quest to transform data into actionable business insight.
Our Solution Portfolio
Our energy theft and fraud analytics solutions are designed to propel your energy management efforts to drive growth and create business value.
User Data Analysis
Given the advances in IoT and sensor technology, utilities companies can access user data from various sources. When analyzed accurately, these data sets enable companies to get the most out of their investments, people, processes, and equipment.
Our industry-leading energy theft and fraud analytics solutions focus on applying analytics to these user data sets to uncover new customer usage insights, improve regulatory compliance, anticipate and manage energy constraints, and enhance the end-user experience.
Utility companies are awash in petabytes of data from an increasing array of connected devices. With sensors being employed to monitor and track essential information from connected devices, it becomes essential for businesses to take advantage of this wealth of data by creating models to unlock the insights embedded within.
With extensive experience in helping our clients wade through high-volume data from sensor networks, we’ve curated a sensor analytics solutions portfolio to discover actionable insights to reduce maintenance costs, enhance service efficiency, and anticipate energy theft and equipment failures, driving an end-to-end transformation of business operations.
Distribution Network Assessment
With the rise of microgrids, smart energy meters, and energy aggregators, the utility business landscape is evolving rapidly, disrupting the traditional distribution model by introducing new operational challenges and greater business uncertainties. But on a granular level, this shift has paved the way for new challenges around achieving a successful energy distribution network.
As a result, successful integration of data, network loss reduction, asset management, energy theft, and fraud prevention are major concerns for utilities companies. Leveraging its fraud analytics capabilities, Quantzig offers an integrated solution for effective network distribution assessment, thereby helping you turn these challenges into new opportunities.
Our industry-leading energy theft and fraud analytics solutions enable businesses to achieve their objectives through real-time monitoring of smart meters, data integration, best practice benchmarking, and fraud prevention.
Non-technical energy losses have been a primary concern for utility companies since their inception. But with the influx of machine data and the evolution of technology to process and analyze data, power and energy companies today are well-positioned to tackle this challenge and identify potential theft and recover revenue.
Request a free proposal to learn more about our offerings.
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