Host: James McWalter
Guest: Priya Vijayakumar | Co-Founder & CEO | WattIQ!
Category: ⚡ Energy | Energy Intelligence
Podcast’s Essential Bites:
[0:15] “We formed WattIQ! with this mission to enable enterprises to become more asset efficient and energy efficient. We live in a world that is very resource intensive […]. And we believe it's the lack of data to understand how your existing assets are utilized, their condition, their energy consumption, sort of the overall management throughout the entire lifecycle […] created tremendous inefficiencies in businesses as well as just the burden on our resources. And we think by closing those data gaps, […] we can transition to a far more efficient industry.”
[6:53] “We started out just trying to give insights into how equipment is used. Then we started expanding to additional sensors and now we could tell you the health of your freezer […]. So kind of starting to get into equipment condition monitoring. […] I think that it is really important to focus on delivering value to the customer and keep up with evolving your product, then it just takes the natural path from there.”
[10:02] “ What is the data that you can get with minimal friction for the customer? So we started by making sure that we didn't touch any proprietary data. We solve this problem by staying off customers’ WiFi networks, not touching proprietary data to enable us to deliver that first level of value. Once you do that, then it gets easier to now say, can I go have all your historical data on this? Because if I can't demonstrate value, until I've collected six months of data, that's the fastest way to stop a sales cycle.”
[13:44] “We have multiple use cases that we support with the data. Everything from optimizing throughput in your analytical labs, to driving procurement decisions, or service contract decisions, and all the way to space planning, when you have lots of electrical equipment. So we always start with what's the use case that's most pressing for the customer.”
[17:37] “People have been shocked from an energy perspective, when you take things like minus 80 freezers, which everyone heard about for storing vaccines. Some of these freezers consume upwards of 30% of excess energy as they age, because they're not always maintained properly. […] People sold you on a data sheet, not actual field data. Very few people sell you on field data. […] Some equipment OEMs’ models were consuming two and a half x what the datasheet was claiming to do.”
[20:25] “You would never buy a car that you didn't know the mileage on the car. Imagine trying to resell equipment saying, trust us, this was used by a big pharma. That doesn't mean anything. So you can actually extend the life of a lot of these products by providing what I call a lab facts insight. This is how it was maintained, this is the mileage on it. And that could really go a long way for somebody buying it as an aftermarket product.”
Rating: ⚡⚡
🎙️ Full Episode: Apple | Spotify | Google
🕰️ 39 min | 🗓️ 05/10/2022
✅ Time saved: 37 min
