Tuesday, March 12, 2013

3TIER uses big data for energy investment risk management






     3TIER is a company that specializes in renewables risk management and helps businesses decide where to build their renewable energy projects across the globe. In order to do this, 3TIER has over forty years of global weather data to assess areas of land to determine whether or not they would be appropriate for a particular energy farm. For example, if a company wants to build a wind-farm, how do we know that the area that the farm is to be built will have a good, windy year? Furthermore, how can a business estimate how much of a cost it would be to build this multi-million or multi-billion dollar project and have a less than normal windy year or any other adverse conditions for a wind-farm?  3TIER reduces all of its data down to the crucial parts needed for its customer to determine how those certain weather patterns will affect their project. 
     
     According to 3TIER, mother nature has provided a wealth of data for them in order to become a more sustainable world. By increasing the likelihood that companies invest in renewable projects in areas that will be more profitable for sustainability efforts, there will be an increase in the number of future renewable energy projects. 

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