Until a few years ago, understanding consumers’ needs was not an easy task, due to the lack of reliable tools. Surveys and interviews were conducted, entailing high costs and low response rates. Today, industrial and household equipment features a large number of sensors, which are able to record a huge amount of information known as Big Data. Thanks to new technologies, it is now possible to profile customers, based on traditional demographic variables (age, gender, place of residence), as well as preferences, experiences, interests.
This allows companies to gain a better understanding of their customers and develop more products and services tailored to their needs. Endesa, an Enel Group Spanish subsidiary, has therefore decided to launch the open competition Endesa Datathon, aimed at developing innovative business proposals based on Big Data.
Over 600 people from 20 countries have analysed simulated data, based on consumption patterns obtained through new hourly readings. During the first phase of the initiative, 40 projects were selected and awarded at an event at the Google Campus in Madrid, attended by experts of innovative technologies.
‘We have created an enormous database with millions of data items that were made available to Big Data experts, in order to understand how to add value through the use of such data. We did not expect such a huge response when we launched the initiative. It was a pleasant surprise’, declared Juan Garrigosa, Endesa’s Head of Innovation.
The 40 winners will have the opportunity to further develop their proposals over the next three months, and the three finalists will be announced in June.
The initiative is part of Endesa’s new collaborative platform, Endesa Energy Challenges, launched to develop products and energy efficient services in collaboration with start-ups and individual innovators. Anyone wishing to take part can register on the portal www.endesaenergychallenges.com and share their ideas. As a Group Enel has embraced an Open Innovation model, based on a paradigm of openness “from and toward the outside” in the innovation sector, focusing on the quality of the projects proposed by the various organisations.
Endesa Energy Challenge is part of a series of initiatives that we have launched to support innovation and entrepreneurship around the world: from Latin America, with Energy Start, to Europe with INCENSe, an accelerator that has allowed 42 European and Israeli start-ups to receive funding from the European Commission, in order to develop their innovative solutions in the field of clean technology. For further information on our innovative projects, visit http://startup.enel.com/en/home.