In our previous blog post, we explored how cloud-based modeling platforms such as PLEXOS Cloud are transforming the way utilities plan for and manage energy production. The single, unified systems these platforms create allow for collaboration across all markets, users and locations, enabling utilities to optimize operations and improve efficiencies.
In this article, we’ll outline the top seven reasons utilities should move from traditional on-premises (on-prem) modeling to a more powerful cloud-based solution.
1. Better Results
Studies have found that fostering collaborative environments leads to a fivefold increase in the likelihood of high performance. This is because cloud collaboration platforms foster more interaction between dispersed teams, enabling all users to work better together no matter their market or location. This holistic, unified approach to communication and energy market modeling delivers more precise and deeper contextual insights.
Cloud collaboration platforms also support cross-industry collaboration, enabling fresh perspectives and competencies to drive innovation around rate cases, integrated resource planning, price forecasting, risk assessment and more.
2. Improved Efficiencies
The seamless sharing offered by virtual collaboration platforms improves communication and ensures alignment across teams, eliminating time-consuming errors and simulation editing. In other words, it’s a more efficient way to work. To save time and streamline workflows, platforms like PLEXOS Cloud simplify data interpretation by offering multiple ways for modelers, planners and decision makers to quickly access, analyze and discuss the outputs of their energy model simulations, which is critical to the efficient management of extensive modeling scenarios.
3. Speed and Ease of Startup
Cloud-based collaboration platforms are faster and easier to set up. PLEXOS Cloud, for example, offers simulation-ready datasets and a marketplace that includes a robust library of templates, playbooks and datasets that allow you to spend your time running simulations, not wrangling data. The platform also enables you to create or upload your own custom models.
Additionally, with automatic and seamless software updates, you won’t have to spend time making sure each member of your team is running the latest version of the platform.
4. Seamless Integration with Existing Infrastructure
Modern energy organizations often utilize multiple platforms and data sources when planning for and managing energy production. Cloud-based collaboration platforms integrate seamlessly with your existing infrastructure, giving you a holistic view of the entire energy ecosystem.
5. No On-Premises Management
With centralized cloud-based simulations, you don’t have to worry about maintaining and upgrading on-site computing power because everything happens in the cloud. This removes limitations around accessibility, version control and computing efficiency. A platform such as PLEXOS Cloud scales and evolves with your organization because its solutions are designed to be flexible.
6. The Ability to Do More, Faster
The advanced computing capacity utilized by cloud-based collaboration platforms reduces simulation times significantly. Something that might take days with traditional on-prem infrastructure takes minutes when leveraging the power of the machines available with PLEXOS Cloud. As a result, teams can analyze hundreds of model runs faster and more accurately. Plus, the customizable visualizations and dashboards provided by solutions such as PLEXOS Cloud make it easier to interpret stochastic study results and translate insights into data-driven decisions.
7. Best-in-Class Security
With cloud collaboration platforms, your data is secure, protected by best-in-class cybersecurity tools. Backups and restoration are also built in, so you never lose your data.
How PLEXOS Cloud Can Help
The PLEXOS Cloud modeling platform streamlines and boosts operational efficiencies thanks to its robust output analysis tools, configurable reports and business intelligence dashboards that provide key study insights and a seamless user experience. The platform’s map-based visualizations make it easier for less experienced users to interpret data while the executive view helps leadership make data-driven decisions.
PLEXOS Cloud also gives you peace of mind around the security of your data. Version control, permissions and privacy settings ensure the right people have access to shared models, outputs and reports. Plus, with its world-class data protection, automatic backups and restoration tools, PLEXOS Cloud is disaster-proof.
Elevate your Collaboration
Enable and enhance seamless collaboration between teams in and outside of your energy organization with PLEXOS Cloud.
Want to learn more about cloud technology in the energy industry? Check out these other resources:
BLOG - How Cloud Collaboration Technology is Transforming Utility Operations
BLOG - Experts - Cloud Provides Cost, Security & Reliability Benefits to Grid
BLOG - Cybersecurity Guidelines Released by NARUC and U.S. DOE
BLOG - Cloud Technologies Critical to Energy Utilities and Organizations
BLOG - Why Cybersecurity is Crucial in the Energy Industry
BLOG - Best Practices for a Strong Cybersecurity Foundation
BLOG - Best Cloud Security Practices and PLEXOS Cloud
BLOG - PLEXOS Cloud: A Year of Innovation and Growth in 2023
BLOG - Scaling Up - What You Can Do with Unlimited Compute
BLOG - Flexible PLEXOS Cloud Bundles Tailored to Your Energy Simulation Needs
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