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CAPABILITY


Forecaster Power: Improve forecasting accuracy with advanced analytics

Forecaster Power advanced analytics application is designed to meet the needs of short- and medium-term forecasting for the resources market.

Overview

The resources market has unique demand forecasting problems, such as the need to submit detailed forecasts to grid operators, or the need to operate on the day ahead market. Measures come from thousands of meter devices, producing hourly—or even more detailed—time series. Customer behaviors are very different from one another: Production schedules drive industrial electricity usage, while domestic usage is sensitive to temperature, so different load curves need to be treated in the most appropriate way. A poorly accurate load forecast can lead to very expensive unbalancing.

Forecaster is the application designed to meet the needs of short- and medium-term forecasting for the energy market. It provides demand forecasting with hourly detail for each point of delivery, or it aggregates on different time frames, according to the needs of the energy market. Forecaster helps users to examine the energy demand forecasting to verify the quality of the result, and to operate by exceptions only on points that do not perform in an optimal way.

Learn more about the Accenture Insights Platform

Specific Services

Forecaster is the advanced analytics application designed to meet the needs of short- and medium-term forecasting for the resources market. The application provides a wide range of functions to monitor the performance typical of the market, such as unbalancing. This forecasting software also uses hourly detail to guarantee a forecast, which is extremely sensitive to portfolio variations, heat factors or sudden variations in the production patterns of each single point of delivery measured on an hourly basis.

Each point is assigned to a suitable forecasting class on the basis of the available data. The automated process follows the point in time and allocates it to a different, more suitable class when the appropriate data are available.

Key features include:

  • Profiles for new customers

  • Unbalancing economics KPI

  • State-of-the-art statistical forecasting methods

  • Statistical KPIs

  • Automated modeling

  • Stepwise selection, self-identification

  • Modeling logic based on meter clustering

  • KPI-driven intervention strategy

Why Accenture

Logistics applications are built within the Accenture Insights Platform, a scalable platform that enables quick and easy access to an array of industry and functional applications that bolt on to the platform for quicker time to market and more rapid results for clients.

Clients also access our wide range of capabilities rooted in:

  • Industry knowledge. The validity of our advanced analytics outcomes is underpinned by our deep knowledge of the sector.

  • Business. Applications are designed for business users and focused on business results, minimizing advanced analytics complexity. Getting to accurate outcomes does not require statistical, mathematical or IT knowledge—just business know-how.

  • Flexibility. Applications are based on a framework that can be easily integrated in an enterprise operational environment to drive business process action.