What is utilization forecast?
Load forecasting is a technique used by utility companies or energy producing companies to predict the energy / energy that will be needed to achieve the balance between demand and supply. The accuracy of the forecast is of great importance for the operational and management load of an energy supplier.
Most forecasting methods use numerical techniques or AI algorithms such as recession, neural networks, and obscure logic. Load forecasts can be short-term (a few hours), medium-term (a few weeks up to a year) or long-term (over a year). The end-use and econometric approach is used for medium and long-term forecasting, while for short-term forecasting, the same day approach, various regression models, time series, neural networks, statistical learning algorithms and fuzzy logic have been developed. Depending on the time series forecast, the results can be categorized as follows:
Seasonal - Use of certain benefits increases or decreases with the season
Trend - When certain events occur
Random - No specific cause