Automated Energy Policy Data Extraction and Filtering System
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Solution Overview
Problem
Energy market participants face inefficiencies due to reliance on manual research tools and lack of real-time access to relevant energy policy and regulatory data, leading to time-consuming and costly decision-making processes, especially in highly regulated environments where timely compliance and market insights are crucial.
Innovation Solution
A computer-implemented method and system providing real-time access to energy policy and regulatory data through data extraction, aggregation, keyword filtering, and automated monitoring, utilizing APIs, Data Feeds, Scrapers, and dashboards to streamline access and enhance decision-making.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of time
If manual research tools such as internet searches and spreadsheets are used, then basic data access is possible, but the process becomes extremely time-consuming and ineffective for energy market participants
Solution Approach 1:
The system enables self-service through automated data collection, processing, and delivery mechanisms. The platform automatically scrapes regulatory data, processes it through keyword filtering, and delivers it to users without requiring manual intervention, thus resolving the contradiction between time investment and research effectiveness
Solution Approach 2:
The patent replaces manual mechanical research processes with an automated digital system. The mechanical action of manually searching and compiling data is substituted by an automated platform that uses web scrapers, data processing algorithms, and automated delivery mechanisms to provide real-time regulatory data
2Reliability
If consultants and specialty research publishers are outsourced for policy questions, then expert knowledge is obtained, but extreme high costs and information delay occur
Solution Approach 1:
The system empowers users to independently access and process regulatory data without requiring external consultants. The automated platform performs data collection, filtering, and delivery functions that previously required expert human intervention, eliminating both the cost and time delays associated with outsourcing
Solution Approach 2:
The patent introduces an automated digital intermediary platform that mediates between regulatory data sources and users. This intermediary system automatically collects, processes, and delivers regulatory information, replacing the human intermediary role of consultants and research publishers while eliminating their associated costs and delays
3Loss of information
If comprehensive regulatory data is monitored manually, then complete coverage is attempted, but the process becomes unmanageable and ineffective
Solution Approach 1:
The system extracts only the relevant regulatory data from the vast ocean of available information using keyword-based filtering. By taking out only the specific data points that match predefined keywords and criteria, the system achieves comprehensive coverage of relevant information while avoiding the complexity of managing all possible regulatory data
Solution Approach 2:
The patent applies local quality by customizing the data processing for different users and sectors. The system allows users to define sector-specific keywords and criteria, so each user receives tailored regulatory data relevant to their specific needs rather than a uniform comprehensive dataset, reducing complexity while maintaining coverage
Data Source
AI summary
A computer-implemented method and system for providing real time access to relevant energy policy and regulatory data. The computer-implemented method includes extracting data from a plurality of website that provides servicing energy stakeholders. The computer-implemented method also includes aggregating the data to a specific website. Further, the method includes creating a list of keywords to count the frequency of words that indicate correlations of interest among different documents. Furthermore, the computer-implemented method includes filtering the data aggregated using the keywords. Moreover, the computer-implemented method includes providing real time access to relevant energy policy and regulatory data thereby allowing customers to efficiently access data that impacts market prices and compliance risk.