State Grid Big Data Center creates "1+N" smart electric eye data product system

As an indispensable production factor for the development of the digital economy, power big data can accurately reflect the operation of the national economy and has broad application prospects and value potential in serving the government and society, helping economic and social development, and promoting the development of the digital economy. On June 15, the State Grid Corporation of China released the ten key construction tasks of "Digital New Infrastructure", focusing on areas such as data application. In terms of data application, it aims to promote data production and processing and value through the construction of power grid digital platforms, energy big data centers and power big data applications. Recently, the State Grid Big Data Center released the latest digital products to observe economic and social development with the eyes of electricity, promote the modernization of national governance, and promote economic and social development.

Multi-dimensional analysis of electricity consumption index serves economic and social development

"From January to June, electricity consumption in 11 major industries continued to improve. The information transmission, software and information technology services industry, leasing and business services industry, and the financial industry recovered well..." On July 16, a report compiled by the State Grid Big Data Center based on the electricity consumption index conducted a detailed analysis of the recovery of the 11 major industries and the manufacturing industry from the dimensions of electricity consumption and number of users.

The report shows that in the first half of 2020, the overall power consumption index in the State Grid operating area was greatly affected by the epidemic from January to March, and the power consumption index continued to fall year-on-year, with a decline of 1.34, 6.55, and 5.55 percentage points respectively. The decline narrowed in April, falling by 1.18 percentage points. From May to June, the power consumption index stabilized, and the year-on-year growth rate expanded month by month, by 1.95 and 5.79 percentage points respectively, showing a stable and positive trend in economic operation.

In terms of industries, among the 11 industries, the top three in terms of comprehensive electricity consumption index are leasing and business services, information transmission, software and information technology services, and finance. The industry, real estate, and transportation, warehousing and postal services are at the bottom.

The electricity consumption index is the main line of the "1+N" smart electric eye digital product system created by the State Grid Big Data Center and the core engine of power big data applications. It uses electricity consumption, number of users and electricity prices as three core indicators as data elements, and is weighted and synthesized based on artificial intelligence algorithms. It can intuitively and quantitatively reflect the current status and development trend of the electricity consumption market.

Since its official release on June 11, the Electricity Consumption Index has served the government, academic groups, media industry, and provincial power companies. It can provide auxiliary reference in industrial development, regional development, social livelihood, etc., and meet the diverse application needs of users.

During the epidemic, the electricity consumption index released a report showing: "In March, among my country's three major industries, the electricity consumption of the secondary industry has rebounded, and the tertiary industry is still affected by the epidemic." At the same time, the first-quarter electricity data released by the China Electricity Council showed that among the three major industries, the tertiary industry was the most affected by the epidemic.

In addition, looking at industrial development through the power consumption index can meet the diversified use of users with different needs, and combined with external economic indicators, it can help understand the life cycle of different industries. The analysis report stated that the epidemic has brought opportunities to certain specific industries. For example, the power consumption index of information transmission and information technology services is relatively high, which is positively correlated with the outbreak of demand for home office, remote conferencing, and online learning during the epidemic.

At present, since the electricity consumption index was launched on the Digital State Grid, 11 provincial power companies have downloaded and used it.

The digital industry electricity consumption index is a subcategory in the electricity consumption index system. It can reflect the overall market conditions of the digital industry and electricity consumption in various dimensions. It has important theoretical significance in economic forecasting and business analysis for government departments, enterprises (especially financial and investment companies), research institutions, etc.

Based on the electricity consumption index, the State Grid Big Data Center project team provided the National Engineering Laboratory for Big Data Analysis and Application Technology of Peking University with the "Technical Report on Digital Industry Electricity Consumption Index", which reflects the changes in economic growth in the digital industry and verifies the effectiveness of the country's digital industry and energy policies.

Project leader Peng Fang introduced that the State Grid Big Data Center will cooperate with the National Engineering Laboratory for Data Analysis and Application Technology of Peking University to promote the Digital Ecological Development Index, and actively promote the index's research and development and operation in terms of the index's evaluation system, data sources, calculation methods, expert argumentation, and authoritative release.

Create N digital products

Providing scientific tools for economic decision-making

The value of power big data goes far beyond this. It can also be interconnected with data from all walks of life to produce greater effects.

"The "Analysis Report on the Business Climate of Small and Micro Enterprises" fully taps the value of power big data, plays a positive role in assisting the government to track and grasp the recovery of small enterprises and judge the effectiveness of government support, and has important social and economic value." On July 6, the State Grid Big Data Center received a reply letter from relevant state departments. The "Analysis Report on the Business Climate of Small and Micro Enterprises" mentioned in the letter is a digital product for analyzing the resumption of production of small and micro enterprises based on power big data.

The State Grid Big Data Center relies on electricity consumption to analyze the production recovery of small enterprises from multiple dimensions, including the enterprise resumption rate, resumption rate, full capacity rate, overproduction rate, and the proportion of depressed enterprises. At present, the product has formed an analysis report on the resumption of work and production of small enterprises in three major regions and a provincial (municipal) small enterprise resumption of work and production analysis report, providing decision-making support for governments at all levels.

The digital product for analyzing the resumption of production of small and micro enterprises is one of the “N” government-related digital products created by the State Grid Electric Power Big Data Center.

"Based on the core line of electricity consumption index, State Grid Big Data Center has developed N branch products, which are applied to industrial development, regional development, social livelihood and other aspects, providing auxiliary reference for the government and meeting the needs of multiple applications." Wang Honggang, head of the Data Analysis Center of State Grid Big Data Center, introduced.

What Wang Honggang mentioned as a core line plus N products is the "1+N" smart electric eye product system recently released by the State Grid Big Data Center. Among them, 1 refers to the core product built based on electricity consumption data - the electricity consumption index, and N refers to the "N" government digital products such as the electricity economic index incubated on this basis, such as the electricity economic index, small and micro enterprise resumption of production analysis, residential vacancy rate analysis, power tourism development index, and targeted poverty alleviation effectiveness evaluation.

These digital products are providing a basis for the government to formulate economic development policies, auxiliary tools for industrial structure monitoring, and business insights for corporate business decisions and market exploration, so as to better serve the government's smart government affairs and digital economic transformation and development.

In Chongqing, the Electricity Economic Index Report submitted by the State Grid Big Data Center analyzed the economic situation of Qijiang District in the past six years and predicted future economic trends, providing a reference for the macroeconomic analysis work of the Development and Reform Commission of Qijiang District, Chongqing.

In Fuzhou, Jiangxi, the electricity economic index report analyzes the electricity consumption structure of various industries in Fuzhou, predicts economic trends in advance, and provides reference for scientific decision-making by the government.

In Qinghai, the Electricity Economic Index Report monitors the development status of various industries in Qinghai Province by mining and analyzing the province's electricity big data and economic data, providing a data basis for the economic operation situation.

On May 21, 2019, when the State Grid Big Data Center was first established, it began to carry out digital product research and development and promotion. As the company's digital innovation platform, the State Grid Big Data Center has planned 80 digital products in 6 product series, promoted the productization of data services, incubated emerging businesses through data products, and built an industrial ecosystem.