02. 26. 2018

Using Analytics to Reduce Heating and Cooling Costs & Risk

Analytics can dramatically reduce heating and cooling costs by up to 20 percent.

Using an energy management system (EMS) can help commercial buildings achieve up to 20-percent energy savings, reports the US Department of Energy. These systems rely on advanced analytics, and the Smart Energy Analytics Campaign (SEAC), a module of the Better Buildings Initiative, expects commercial enterprises to reduce energy consumption over the next decade. Coincidence? No. Since heating and cooling costs make up the top costs for commercial buildings, Facilities Managers must follow these best practices to use analytics to reduce heating and cooling costs to reach SEAC goals.

Take a Combined Performance and Comprehensive Approach to Analytics

A comprehensive approach provides top-level analytics and suggestions for continue to be mentation of new initiatives to maximize returns. A performance approach tracks with detailed elements of a larger facilities management process, enabling it Facilities Managers to see comprehensive impact on overall costs resulting from heating and cooling system failures and efficiencies.

Automate Analytics for Fault Detection, Diagnostics, Monitoring and Reporting

Analytics can also be used to help automate fault detection, diagnostics, monitoring, and reporting of asset performance, failures, and risks. For some assets, such as the HVAC system, a major fault could result in overheating and a fire. Therefore, implementing analytics can be integral in reducing risk to your business, and automated fault detection and diagnostics reduce costs associated with equipment repairs, says Deloitte.

Identify Opportunities for Increased Performance

Analytics may also be used in commercial buildings to identify opportunities for increased performance and cost-saving. Part of this derives from the different categories of analytics. Descriptive analytics, which detail the past circumstances and events leading to a given scenario, can be used to identify areas of weakness and opportunity that could be altered in future events to produce better results. Paired with predictive and prescriptive analytics, this information can tell facilities managers which actions are necessary to achieve an optimum outcome.

Use Cloud-Based Services to Keep Energy Management Systems  Costs Down

Some facilities managers may have trouble implementing analytics in their organizations due to lack of knowledge about pricing models for analytics-based programs. Fortunately, the modern world of business is full of software-as-a-service (SaaS) platforms, so even small and mid-sized organizations can take advantage of the benefits of analytics and use cloud-based services to keep energy management system costs down.

Set Realistic Key Performance Indicators (KPI) to Reduce Heating and Cooling Costs

A final consideration in using analytics to reduce heating and cooling costs revolves around the need to set realistic metrics and key performance indicators for measuring asset performance. While driving energy costs down by 90 percent would be ideal and an amazing opportunity for cost savings, it is unrealistic. Unrealistic expectations will result in distrust within the C-Suite and problems throughout your facilities management department. Set realistic expectations by considering nationwide benchmarks and typical energy expenditures and costs associated with companies that have implemented analytics and other smart building solutions to keep costs down.

Put Your Organization on the Path to Success by Implementing the Right Analytics Platform Now

The benefits of using analytics to reduce heating and cooling costs are clear. Aside from direct savings from decreased energy consumption analytics can also reduce the risks associated with operating your heating and cooling systems. Empower your facilities management team by implementing analytics in heating and cooling systems today, and visit ENTOUCH to find out how your organization can benefit from advisory services through ENTOUCH.360.

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