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Smart Asset management (or asset tracking) is the process of keeping track of your company's physical assets and their information. Depending on your business, physical assets can mean different kinds of equipment, IT devices, tools or vehicles, for example.

Smart metering is one of the key steps to developing citywide smart grid systems. These smart metering systems address utility consumption tracking and forecasting challenges for electricity, gas and water. By providing real-time usage data, smart meters allow utility providers to optimize distribution and empower consumers to make smarter usage decisions.

Smart metering provides a way for businesses to keep track of how much energy they’re using so they can adjust their usage if necessary. In addition to measuring usage, smart meters record a variety of data points on consumption, including when a resource is being used, how much is being used at a time, and where it’s being directed. An internet or wireless connection relays the data to a console, where a business owner or administrator can see how that data breaks down.

Many electric, gas, water and other utility companies have embraced smart metering to track usage across their customer bases to better determine costs and infrastructure needs. Smart metering can give both utility providers and customers better ideas of how usage affects costs, and help business owners determine new energy-efficient strategies to save money.