Data has been a hot topic since 2018 and is still one of the most discussed points when it comes to gathering data from your water meter. There are many benefits from knowing what your data is worth to you and how this can benefit you in the long run.
With smart water metering technology becoming one of the most popular solutions when it comes to gathering your data, you can say goodbye to manual reading! Smart communications are taking over!
There is a huge value in data, but it's only useful when you use it.Smart meters gather a lot of data, often more than your utility companies are aware of or know what to do with.
So how can you calculate the value your smart meter can bring to your investments and monthly budgets?
You need to consider the unique challenges you are facing as an investor or individual. What is your main concern when it comes to your water usage and what do you need to give you that information?
Do you want a system which can tell you when you have a leakage or is your main goal to have simple and efficient meter readings with minimal admin, giving you accurate readings to reduce any revenue loss.
By breaking down the components of data you will be able to calculate and use it to quantify the financial potential of your smart meter. You will have to take the following into consideration:
How much does it cost to conduct a field visit to read the meters?
How much revenue and water do you lose due to undetected leakages?
What impact will accurate readings have on your financial situation?
Answering these questions will give you a good indication as to how much your data is worth to you. Good news is that smart meters enable you to benchmark your data, giving you an indication of exactly how much money and resources you are using to get your water readings.
Here are 6 ways to generate value from the data you gather from your smart meter:
- Improved accuracy in readings
Smart meters will give you accurate data quality with correct billing info for your tenants or your own properties. This enables you to collect revenue more efficiently and not lose any along the way. - Efficient meter readings
No more manual readings! You are able to gather all your data via smart communication straight to your phone or PC. This reduces the admin and staffing costs while improving your data collection system. - Minimize water losses
With smart meters you will have the ability to detect leakages, bursts, and any tampering on your water systems. This reduces water loss and high utility bills. - Customer relationships
With more accurate data and readings you will be able to establish a good relationship with your tenants. By being able to provide them with accurate utility bills and transparency on the usage readings. - Smart meters are smart:
They know when there is air in the pipe and will not count air as water. - Instant Notifications
Instantly get notifications from your system to alert you of leaks, burst and tampering. This will allow you to take action quickly to prevent any type of revenue loss. It also allows us to manage excessive water usage.
So ask yourself, what is it worth to you by installing a smart water meter to your properties? By choosing the right product you can be sure to get accurate readings with no revenue loss.
To find the right device for you visit our website www.flecto.co.za for more information and pricing
Credit: Melissa Minnie (Marketing Manager @Flecto Sense)