Having more information to collect, analyze and leverage in a variety of fields is powerful. Energy management companies and online merchants use data every day to improve their operations and their customers’ experiences. Data is increasingly changing our habits, solving problems, and making our lives more efficient.
But data and analytics are underutilized in managing water consumption. Most property managers don’t have access to the tools that would give them detailed information about their water use.
As the price of water increases at a higher rate than any other utility, the need for actionable water analytics becomes more urgent. Detailed tracking is likely to help more and more large property managers find smart ways to keep costs down.
Use water analytics to reduce water usage
Water analytics enable proactive actions such as:
- Detecting leaks
- Understanding changes in usage
- Understanding the impact of new fixtures or other improvements
- Identifying areas of waste
- Predicting bills and costs
- Calculating the ROI on water-saving investments
- Implementing water savings programs and tracking their results
- Setting and meeting water use goals
- Auditing water bills for errors
- Decreasing water costs by decreasing use
The energy industry pioneered the path for actionable analytics. See how the following examples in energy could make sense for water:
- Nest’s smart thermostats help cut household energy consumption by learning routines and patterns, and determining when a household is using unnecessary air conditioning or heating. What’s more, Nest works with utility companies to balance their load during peak energy-demand moments. (If you’ve ever wondered why your Nest automatically turned up your AC temperature by a few degrees, that may be why).
- Consulting companies like Ecova help large businesses and utilities unravel their energy use and identify areas where they can cut back. They use data to make informed recommendations about investments that a business should consider to curb their energy use. For example, data can show whether the payoff is bigger for a certain company to invest in solar panels or make larger investments in energy savings.
- Various studies show that the simple act of measuring and displaying how much energy is being used in a home reduces energy use by 10-14% (K. Carrie Armel, Stanford School of Medicine).
Residential and commercial energy users demanded and received detailed data on their use. This helped them control costs.
Water restrictions and price increases drive the need for the same level of granularity and insight into water use. Companies like Banyan Water are providing clients detailed, real-time water use data on their properties. Some utilities are starting to provide water analytics on bills or through online portals. That data is empowering users to make smart decisions about their water use.
Here are some real-life examples of actions taken thanks to access to the right water use data and analytics:
- One property knew that they had a leaking fountain, but the cost to repair the leak was high, so they held off on making the repair. Once Banyan Water provided them with data showing that the leak was costing over $2000 per month in additional water bills, it was easy for them to justify the repair bill.
- A property had proactively installed flow monitoring devices on several of their buildings. Several months later, one of the buildings developed an underground leak that would have severely damaged that building’s foundation, but because they had software monitoring the water use, the property manager was quickly notified when that building’s water use changed and was able to find and repair the leak with minimal damage to the property.
- Banyan Water uses water data and analytics to determine how much irrigation water a property needs, which is typically 50% – 70% less than what they are using before looking at the data, resulting in huge water savings and cost savings.
- One company that partners with Banyan Water displays water use data for their building so that employees working in the building can see how much water they are using. Simply displaying this information has increased awareness and helped to decrease use.
The power of water analytics is beginning to impact large property owners now. Tap the power of data to reduce your water use.