Phillip Totaro, CEO, Totaro & Associate
In a first for the energy sector, Totaro & Associates is launching a content aggregation and licensing platform for asset owners, OEMs, component suppliers and data analytics companies who are seeking access to performance or health monitoring data.
Through the IntelStor Energy Data Services platform, companies that are willing to open their data archives will receive a royalty for any information which Totaro & Associates monetizes on their behalf in a data-as-a-service (DaaS) business model.
“Content aggregation and licensing is a well-established business practice in digital services in other industries, and we’re excited to bring that capability to the energy sector,” says Philip Totaro, Founder & CEO of Totaro & Associates.
IntelStor Energy Data Services will act as an online marketplace connecting companies who have data to offer with others who are interested to license the operational asset data. Through partnerships, Totaro & Associates will work with platform users on their data structure and database schema, as well as the development of an application programming interface (API) which can be used for data export.
Companies that would like to contribute data will retain full rights, title, and control over the data, and will exchange information directly with interested licensees. All content will be digitally tagged and the usage will be tracked through the IntelStor Energy Data Services platform using blockchain technology. Asset owners and other data contributors will retain the right to refuse to license at their discretion.
The IntelStor Energy Data Services module will be part of the IntelStor online market intelligence platform which Totaro & Associates has had under development since 2015. IntelStor Energy Data Services will also be directly connected to the vast archive of market intelligence data of IntelStor, including a global project database of 350,000 installed turbines, more than 1,000 individual turbine models including bill of material costs, suppliers, power curves, detailed technical specifications, technical description of product features extracted from over 57,000 patent filings.
As a result of this innovation, the content which is provided by data contributors could be combined with other market intelligence which Totaro & Associates has amassed. This will result in a much more robust package of information which will identify sales opportunities for aftermarket components, fleetwide servicing issues, performance upgrade opportunities which asset owners did not know existed, and more.
Asset owners and OEMs who hold some of the more valuable data could receive an effective discount on services or the aftermarket components they were already planning to buy. Upon contribution of their data, the IntelStor Energy Data Services platform will identify prospective solution providers or component suppliers and develop a customized data package including technical and market intelligence which could be sold. The data contributor would receive a portion of the proceeds from the sale of that data package including their licensed content, reducing their cost burden for the acquisition of services or spares.
The IntelStor Energy Data Services platform already has commitments for data contributions from one major asset owner, one major global OEM, and one condition monitoring services provider, with more announcements on participants, anticipated soon.
For more: www.totaro-associates.com/contact