Blockbuster, or Netflix?
How EnergyX Solutions is modernizing the energy audit space.
This article is adapted from a transcript of a presentation given by EnergyX CTO and Founder Alex Corneglio during a Product Showcase at E-Source Forum 2019 in Denver, CO.
We are living through the middle of a service revolution.
This revolution is not about the service we provide, it’s about how we provide it.
Here’s an example:
I’ve been a Netflix customer since 2010. In that time I’ve lived in three different countries and used countless devices to watch Netflix. One thing I’ve never done? Called their customer support. They’ve managed to automatically bill me over 100 times.
It’s possible, because while Blockbuster was insisting that I roam the aisles Netflix was busy quizzing me online about my favourite shows. They found that my usage data could provide them information about my preferences. Today, they use my I.P. address to determine exactly where I am in the world so they can feed me licensed content that suits my taste.
“Netflix traded aisles of videos for aisles of servers. And that’s because the service revolution that I’m talking about thrives on customer information. ”
The point of this should also be obvious. That’s the Netflix stock chart on the top, and Blockbuster on the bottom. This service revolution is about more revenue, it’s about better margins, it’s about survival.
This revolution is also about democratization. Netflix is serving customers all over the globe, and delivering localized, relevant content to each and every one of them.
“I believe that democratization is also the core of the utility industry.”
Today, through distributed energy resources, that’s more true than ever. We’re lucky, because customers are still letting us help them make the decisions that will take us into the future. If you don’t believe me, just ask your call center.
People are calling every day and it’s an opportunity.
“At EnergyX, we believe that everyone should have the opportunity to make smarter energy decisions.”
And we know that smart energy decisions start with smart, relevant plans that lead to action. Every plan starts with a single piece of information, and from there it grows.
We have helped over half a million people better understand their energy usage, and we want every building in North America to get an energy audit. To make that happen we’re pushing the boundaries of what’s possible with a little bit of data for a whole lot of buildings, and we’re learning a lot.
We know that utilities have access to a lot of customer information, but a lot of that information is sensitive and personal. Which is why at EnergyX our algorithms are based on non-personally identifiable building information. When utilities can make better use of data, customers get better service. We believe that your program strategy should generate more data than it takes to run.
“In today’s service revolution, it takes a data advantage to deliver the best possible service.”
That level of service is constantly advancing. In a pilot project we’re completing right now in Canada, we’re using just 10 building data points to predict total energy consumption, retrofit potential and energy savings with the same accuracy as a walk through energy audit. And just like Netflix, when we layer on your information the results become even more impressive.
We’re able to deliver calibrated results with largely utility independent data sets that are available for nearly every building in North America. So please, ask yourself, what could you do with audit-grade insight into the majority of your customer base? And what does the future of utilities look like?
Blockbuster, or Netflix?