Empowering an Energy Utilities Business with Advanced Analytics Solutions
The platform primarily handles Weather forecast data, historical energy consumption data, and data from IoT sensors.
The client required an advanced analytics solution to make use of the data to generate insights that:
Help their business forecast demand for Distribution Companies.
Detect outliers for ill-performing wind turbine.
The client develops, sells and services energy analytics software to renewable energy producers, OEMs, transmission and distribution utilities, and other energy companies.
Indium Software’s approach focused on two use cases:
- Demand Forecasting
- Survival Analysis
Demand Forecasting Problem
- The data flux from the Weather reports, Energy Consumption and IoT Sensor data is of high frequencies and volumes.
- Using the data, create a model of High Accuracy and Less Variance forecasting values.
Survival Analysis Problem
- Use of data sources from Weather forecast reports, Wind Turbine sensor data from a large number of wind turbines.
- Predict failures in advance to leave enough device repair and maintenance time.