A publicly available financial modelling tool designed to allow businesses to chart existing and future water risks and enhance their decision making is harnessing the power of the Microsoft Azure cloud platform.
The Water Risk Monetizer helps businesses understand the impact of water quantity and quality on their operations. This helps enable better, more sustainable business decisions.
“The impacts of water scarcity on business are complex and far reaching,” explained Christophe Beck, Ecolab executive vice president. “Successful business leaders will drive water strategies that go beyond simply using less to reuse and recycling. Data provided by the Water Risk Monetizer not only encourages conservation but also helps make circular water management an important and viable option to ensure a more resilient future for businesses and communities.”
Built on Microsoft Azure Cloud technology, The Water Risk Monetizer has been developed by Ecolab, a leading water technologies and services company, and Trucost, who specialise in environmental data and risk analysis.
The tool uses local water basin datasets, economic techniques, and methodologies developed by Trucost to help monetise water-related business risks.
The tool also incorporates water quality into its site-specific risk analysis. This helps users gain a more comprehensive assessment of risk.
“At Microsoft, we see a great opportunity to use the cloud, internet of things and machine learning to transform water management,” said Judson Althoff, executive vice president of worldwide commercial business for Microsoft. “We have worked with Ecolab and Trucost to develop a secure solution that can listen, learn and predict. The Water Risk Monetizer tool, powered by our cloud technologies, is able to turn data into actionable insights to transform the way every business consumes and manages water.”