Real-time data and monitoring technology informs and improves so many aspects of our daily lives—from sensors that avoid a collision before drivers can respond, to smartwatches that can detect when we’ve been in an accident and call for help. 

One area where it has enormous potential is in keeping track of—and limiting the use of—scarce resources. That’s something economists and environmentalists have been advocating for years. Now, an analysis of a pilot project conducted by researchers affiliated with the University of Chicago’s Energy Policy Institute, which I help run, offers evidence of the promise—and potential shortcomings—of using real-time data to encourage conservation. 

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