AUSTIN, Texas--(BUSINESS WIRE)--Olea Edge Analytics, an intelligent edge computing platform for the water utility industry, today launched its Smart Water Management Platform, a single dashboard that gives cities and utilities complete visibility of all their managed assets.
Up to half of a utility’s annual revenue comes from large commercial and industrial water meters. Every penny of that revenue is crucial today, with city budgets straining under the economic effects of COVID-19. Olea Edge Analytics’ history with numerous utilities shows that up to 40% of all high-volume meters are underbilling and need repair. Even in the best of conditions, they can lose accuracy by more than 10% per year. Those inaccurate measurements and unaddressed maintenance add up to millions of dollars in potential revenue.
Olea Edge Analytics is a proven leader in helping utilities recover revenue. The City of Atlanta - Department of Watershed Management recently legislated an expanded $3.9 million agreement that is expected to recover millions of dollars. The new Smart Water Management Platform extends the company’s offerings into asset management for operations.
The Smart Water Management Platform represents the next step in Olea Edge Analytics’ innovative use of technology for revenue recovery. The first evolution, Vault Management, allows utilities to continually manage their important assets and be notified of any issues. It provides executive and operational views of all workflows, including billing and consumption data, maintenance data, the historical and current state of all assets, and safety issues.
“We combine edge computing with artificial intelligence and machine learning to help cities make more informed decisions,” said Dave Mackie, Olea Edge Analytics’ CEO. “Our network operations center can remotely manage all of the endpoints across the city, prioritizing repair work, giving the ideal route and directions, and transmitted work plans and specifications to provide everything crews need for a right-first-time trip.”
Other companies, including software giant Oracle, offer customer information systems (CIS) and platforms that claim to provide robust management of smart meters. But those companies only offer software solutions. Olea Edge Analytics delivers every piece of a cross-functional platform for billing and asset management. Data moves from Olea’s sensors in the ground by each meter to the cloud to the operations center, where the Smart Water Management Platform continually monitors all assets for potential lost revenue.
Cities also can make information available to customers through Olea’s CIS so that individual users can monitor their water usage.
The platform includes a mobile app that allows operations teams to take a picture of any meter or asset and upload it to the Olea Asset Management Engine. The asset is geo-tagged and added into an easy-to-use interface.
A typical installation of 50-100 of Olea’s Meter Health Analytics monitors identifies enough recoverable revenue to pay for the entire suite of supported sensor types. The company recently added new sensors that monitor pressure, bypass piping and leak detection.
To learn more about Olea Edge Analytics, visit oleaedge.com.
About Olea Edge Analytics
Olea's proven technology empowers utilities to optimize water delivery, billing and conservation so cities can generate millions more in revenue. Committed to helping water utilities combat aging infrastructure, meet greater demand and limit rate increases, Olea's patented solution combines IoT and edge computing capabilities to bring transparency, accuracy and reliability to the delivery of the world’s most precious resource. For more information, visit www.oleaedge.com.