The data deluge: Bridging the information gap with Data as a Service (DaaS)

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Data as a Service (DaaS)

Nearly everything we touch generates data. In the modern industrial landscape, with sensors, connected devices, smart buildings, and digital platforms, there has never been so much available raw data. In fact, the volume produced and consumed globally is expected to triple between 2020 and 2025.

Data is valuable capital to drive company innovation, agile decision-making, and growth opportunities. Yet its true power isn’t fully realized by simply accessing it — it must be transformed and enriched to deliver actionable and easy-to-understand insights. So, how can we harness the full potential of data? The answer is Data as a Service (DaaS), a transformative data management technology that is becoming essential for the future success of any organization.

DaaS enables businesses to access large amounts of data via the cloud without the burden of managing processing operations or physical infrastructure. By utilizing open APIs – interfaces that allow software applications to interact – DaaS allows users to seamlessly request, retrieve, and integrate data into applications or systems, fostering efficient and flexible access.

It also provides exclusive and confidential data aggregation, transformation, and formatting without needing local resources. It’s like a library of high-quality, relevant information accessible to clients anytime, anywhere.

Organizations are using DaaS to define their competitive advantage. Using customer information to enhance products and services has been a long-standing practice, now amplified by the rise of DaaS. Being part of a data-driven platform that acts as an intermediary between sellers and buyers also boosts competitiveness in the marketplace.

DaaS enables data-driven organizations to achieve over 30% annual growth by providing transformative impacts across businesses by:

  • Enhancing decision-making
  • Improving operational efficiency
  • Promoting innovation by more easily sharing diverse and powerful data
  • Empowering them to be more agile, customer-centric, and competitive

A key DaaS strength is its ability to provide customized data insights. For example:

  • Commercial industrial site owners can specify business, sustainability, and operational intel.
  • Facility managers can access real-time data on energy usage, occupant well-being, and equipment performance.
  • Maintenance crews can use real-time information for targeted interventions, minimizing downtime and improving productivity.

EcoStruxure is our IoT-enabled, plug-and-play, open, interoperable architecture and platform. It collects, connects, and analyzes data in real-time and now brings DaaS to life thanks to open APIs that allow it to uncover actionable insights.

Sets of data gathered and enriched through DaaS accelerate operational and maintenance efficiency, including energy and sustainability performance in targeted industrial and building applications.

Getting started with DaaS begins in our Schneider Electric Exchange Developer Portal, where partners and end users can connect various APIs to access raw and custom data supporting:

  • Energy and sustainability
  • Asset and equipment
  • Power and electrical
  • Buildings and facilities
  • Risk management

Let’s take a look at DaaS in action. One global technology company affiliated with Green Business Certification and the U.S. Green Building Council needed to consolidate data from various building and energy management systems to help meet their sustainability goals. They used DaaS with EcoStruxure, using open APIs to collect, refine, and expose energy, water, waste, and indoor air quality sensor data. This allowed the company to consolidate operational technology (OT) and information technology (IT) to enhance visibility into KPI tracking and more effectively monitor progress toward certifications.

As businesses adapt to exponentially growing data, DaaS helps bridge the gaps between approaches and strategies to enable predictive analytics, custom automated processes, remote control, and new operational efficiencies. DaaS is a vital approach to confidently navigating the complexities of our digital age.

Download our eGuide to learn how to experience the power of Data as a Service and unlock the full potential of data for your business.

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