Even before the IPO of Opower and the Google acquisition of Nest, there was much hype in recent years on the use of data and analytics in utility energy efficiency programs. From home energy reports focused on behavioral savings to disaggregation of smart meter data for virtual audits to a rebirth of smart thermostats, data is providing a valuable first-step to savings by identifying customers with the greatest savings potential and enabling compelling marketing to customers of their specific savings opportunities.
Ecova has been working to fuse this actionable data with the other program components critical to driving program participation and energy savings. I’m excited to share that today we announced the availability of our Ecova Efficiency Platform, an integrated solution that combines powerful data and analytics into complete program solutions to achieve substantive energy savings for our utility clients.
At Ecova, we continue to emphasize leveraging data and analytics to make our programs smarter and more efficient at obtaining energy savings. The Ecova Efficiency Platform consolidates our data and operational activities into one platform, streamlining operations and providing greater insight and ongoing program optimization. Here are just a couple examples of how the Ecova Efficiency Platform streamlines and improves operations:
- In our Retail programs, we now have a consolidated view of sales, field in-store and marketing promotion data enabling us to pinpoint the right incentive amount and promotion activities to effectively and efficiently achieve our client’s exact savings goals.
- In our Home Energy Improvement programs, energy usage, demographic and participation data enable our team of experts to craft the right message, to the right customers at the right time resulting in dramatic increase in response and average savings per customer.
BENEFITS TO OUR CLIENTS
The Ecova Efficiency Platform offers many benefits to our clients―Ecova is now able to immediately cross-analyze data that previously lived in different systems to inform timely program decisions and deliver improved results. For example, Ecova is correlating marketing campaign timing and type to sales volume data by geographic location to visualize sales lift and optimize marketing tactics. Similarly, Ecova is analyzing the price sensitivity of incentive amounts and sales volumes against each other to adjust amounts to the optimal level to achieve the desired savings without wasting incentive dollars.
While the Ecova Efficiency Platform is a significant enhancement to the way we implement energy efficiency programs for our clients, it is only one key ingredient to realizing savings. We are very fortunate at Ecova to have built broad and deep retailer/distributor infrastructure, localized marketing and support staff, and motivated trade allies to enhance customer experience and increase energy and cost savings.
It is the use of data and insights enabled by our new Ecova Efficiency Platform, combined with Ecova’s expertise in program design, delivery, and partners that’s enabling us to deliver next generation, data-optimized energy efficiency programs. Our entire Ecova team (and clients!) are thrilled by the results this combination has already delivered and we are excited by the potential the Ecova Efficiency Platform will enable for us in 2015.