Search results for: production forecasting
7908 A New Model for Production Forecasting in ERP
Authors: S. F. Wong, W. I. Ho, B. Lin, Q. Huang
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ERP has been used in many enterprises for management, the accuracy of the production forecasting module is vital to the decision making of the enterprise, and the profit is affected directly. Therefore, enhancing the accuracy of the production forecasting module can also increase the efficiency and profitability. To deal with a lot of data, a suitable, reliable and accurate statistics model is necessary. LSSVM and Grey System are two main models to be studied in this paper, and a case study is used to demonstrate how the combination model is effective to the result of forecasting.Keywords: ERP, grey system, LSSVM, production forecasting
Procedia PDF Downloads 4627907 Energy Consumption Forecast Procedure for an Industrial Facility
Authors: Tatyana Aleksandrovna Barbasova, Lev Sergeevich Kazarinov, Olga Valerevna Kolesnikova, Aleksandra Aleksandrovna Filimonova
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We regard forecasting of energy consumption by private production areas of a large industrial facility as well as by the facility itself. As for production areas the forecast is made based on empirical dependencies of the specific energy consumption and the production output. As for the facility itself implementation of the task to minimize the energy consumption forecasting error is based on adjustment of the facility’s actual energy consumption values evaluated with the metering device and the total design energy consumption of separate production areas of the facility. The suggested procedure of optimal energy consumption was tested based on the actual data of core product output and energy consumption by a group of workshops and power plants of the large iron and steel facility. Test results show that implementation of this procedure gives the mean accuracy of energy consumption forecasting for winter 2014 of 0.11% for the group of workshops and 0.137% for the power plants.Keywords: energy consumption, energy consumption forecasting error, energy efficiency, forecasting accuracy, forecasting
Procedia PDF Downloads 4467906 The Role of Business Survey Measures in Forecasting Croatian Industrial Production
Authors: M. Cizmesija, N. Erjavec, V. Bahovec
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While the European Union (EU) harmonized methodology is a benchmark of worldwide used business survey (BS) methodology, the choice of variables that are components of the confidence indicators, as the leading indicators, is not strictly determined and unique. Therefore, the aim of this paper is to investigate and to quantify the relationship between all business survey variables in manufacturing industry and industrial production as a reference macroeconomic series in Croatia. The assumption is that there are variables in the business survey, that are not components of Industrial Confidence Indicator (ICI) and which can accurately (and sometimes better then ICI) predict changes in Croatian industrial production. Empirical analyses are conducted using quarterly data of BS variables in manufacturing industry and Croatian industrial production over the period from the first quarter 2005 to the first quarter 2013. Research results confirmed the assumption: three BS variables which is not components of ICI (competitive position, demand and liquidity) are the best leading indicator then ICI, in forecasting changes in Croatian industrial production instantaneously, with one, two or three quarter ahead.Keywords: balance, business survey, confidence indicators, industrial production, forecasting
Procedia PDF Downloads 4747905 Electricity Demand Modeling and Forecasting in Singapore
Authors: Xian Li, Qing-Guo Wang, Jiangshuai Huang, Jidong Liu, Ming Yu, Tan Kok Poh
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In power industry, accurate electricity demand forecasting for a certain leading time is important for system operation and control, etc. In this paper, we investigate the modeling and forecasting of Singapore’s electricity demand. Several standard models, such as HWT exponential smoothing model, the ARMA model and the ANNs model have been proposed based on historical demand data. We applied them to Singapore electricity market and proposed three refinements based on simulation to improve the modeling accuracy. Compared with existing models, our refined model can produce better forecasting accuracy. It is demonstrated in the simulation that by adding forecasting error into the forecasting equation, the modeling accuracy could be improved greatly.Keywords: power industry, electricity demand, modeling, forecasting
Procedia PDF Downloads 6407904 Load Forecasting in Short-Term Including Meteorological Variables for Balearic Islands Paper
Authors: Carolina Senabre, Sergio Valero, Miguel Lopez, Antonio Gabaldon
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This paper presents a comprehensive survey of the short-term load forecasting (STLF). Since the behavior of consumers and producers continue changing as new technologies, it is an ongoing process, and moreover, new policies become available. The results of a research study for the Spanish Transport System Operator (REE) is presented in this paper. It is presented the improvement of the forecasting accuracy in the Balearic Islands considering the introduction of meteorological variables, such as temperature to reduce forecasting error. Variables analyzed for the forecasting in terms of overall accuracy are cloudiness, solar radiation, and wind velocity. It has also been analyzed the type of days to be considered in the research.Keywords: short-term load forecasting, power demand, neural networks, load forecasting
Procedia PDF Downloads 1907903 Fuzzy Time Series Forecasting Based on Fuzzy Logical Relationships, PSO Technique, and Automatic Clustering Algorithm
Authors: A. K. M. Kamrul Islam, Abdelhamid Bouchachia, Suang Cang, Hongnian Yu
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Forecasting model has a great impact in terms of prediction and continues to do so into the future. Although many forecasting models have been studied in recent years, most researchers focus on different forecasting methods based on fuzzy time series to solve forecasting problems. The forecasted models accuracy fully depends on the two terms that are the length of the interval in the universe of discourse and the content of the forecast rules. Moreover, a hybrid forecasting method can be an effective and efficient way to improve forecasts rather than an individual forecasting model. There are different hybrids forecasting models which combined fuzzy time series with evolutionary algorithms, but the performances are not quite satisfactory. In this paper, we proposed a hybrid forecasting model which deals with the first order as well as high order fuzzy time series and particle swarm optimization to improve the forecasted accuracy. The proposed method used the historical enrollments of the University of Alabama as dataset in the forecasting process. Firstly, we considered an automatic clustering algorithm to calculate the appropriate interval for the historical enrollments. Then particle swarm optimization and fuzzy time series are combined that shows better forecasting accuracy than other existing forecasting models.Keywords: fuzzy time series (fts), particle swarm optimization, clustering algorithm, hybrid forecasting model
Procedia PDF Downloads 2507902 A Method of Effective Planning and Control of Industrial Facility Energy Consumption
Authors: Aleksandra Aleksandrovna Filimonova, Lev Sergeevich Kazarinov, Tatyana Aleksandrovna Barbasova
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A method of effective planning and control of industrial facility energy consumption is offered. The method allows to optimally arrange the management and full control of complex production facilities in accordance with the criteria of minimal technical and economic losses at the forecasting control. The method is based on the optimal construction of the power efficiency characteristics with the prescribed accuracy. The problem of optimal designing of the forecasting model is solved on the basis of three criteria: maximizing the weighted sum of the points of forecasting with the prescribed accuracy; the solving of the problem by the standard principles at the incomplete statistic data on the basis of minimization of the regularized function; minimizing the technical and economic losses due to the forecasting errors.Keywords: energy consumption, energy efficiency, energy management system, forecasting model, power efficiency characteristics
Procedia PDF Downloads 3937901 Collaborative Planning and Forecasting
Authors: Neha Asthana, Vishal Krishna Prasad
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Collaborative planning and forecasting are the innovative and systematic approaches towards productive integration and assimilation of data synergized into information. The changing and variable market dynamics have persuaded global business chains to incorporate collaborative planning and forecasting as an imperative tool. Thus, it is essential for the supply chains to constantly improvise, update its nature, and mould as per changing global environment.Keywords: information transfer, forecasting, optimization, supply chain management
Procedia PDF Downloads 4357900 Lee-Carter Mortality Forecasting Method with Dynamic Normal Inverse Gaussian Mortality Index
Authors: Funda Kul, İsmail Gür
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Pension scheme providers have to price mortality risk by accurate mortality forecasting method. There are many mortality-forecasting methods constructed and used in literature. The Lee-Carter model is the first model to consider stochastic improvement trends in life expectancy. It is still precisely used. Mortality forecasting is done by mortality index in the Lee-Carter model. It is assumed that mortality index fits ARIMA time series model. In this paper, we propose and use dynamic normal inverse gaussian distribution to modeling mortality indes in the Lee-Carter model. Using population mortality data for Italy, France, and Turkey, the model is forecasting capability is investigated, and a comparative analysis with other models is ensured by some well-known benchmarking criterions.Keywords: mortality, forecasting, lee-carter model, normal inverse gaussian distribution
Procedia PDF Downloads 3607899 Forecasting Amman Stock Market Data Using a Hybrid Method
Authors: Ahmad Awajan, Sadam Al Wadi
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In this study, a hybrid method based on Empirical Mode Decomposition and Holt-Winter (EMD-HW) is used to forecast Amman stock market data. First, the data are decomposed by EMD method into Intrinsic Mode Functions (IMFs) and residual components. Then, all components are forecasted by HW technique. Finally, forecasting values are aggregated together to get the forecasting value of stock market data. Empirical results showed that the EMD- HW outperform individual forecasting models. The strength of this EMD-HW lies in its ability to forecast non-stationary and non- linear time series without a need to use any transformation method. Moreover, EMD-HW has a relatively high accuracy comparing with eight existing forecasting methods based on the five forecast error measures.Keywords: Holt-Winter method, empirical mode decomposition, forecasting, time series
Procedia PDF Downloads 1297898 Comparison of Applicability of Time Series Forecasting Models VAR, ARCH and ARMA in Management Science: Study Based on Empirical Analysis of Time Series Techniques
Authors: Muhammad Tariq, Hammad Tahir, Fawwad Mahmood Butt
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Purpose: This study attempts to examine the best forecasting methodologies in the time series. The time series forecasting models such as VAR, ARCH and the ARMA are considered for the analysis. Methodology: The Bench Marks or the parameters such as Adjusted R square, F-stats, Durban Watson, and Direction of the roots have been critically and empirically analyzed. The empirical analysis consists of time series data of Consumer Price Index and Closing Stock Price. Findings: The results show that the VAR model performed better in comparison to other models. Both the reliability and significance of VAR model is highly appreciable. In contrary to it, the ARCH model showed very poor results for forecasting. However, the results of ARMA model appeared double standards i.e. the AR roots showed that model is stationary and that of MA roots showed that the model is invertible. Therefore, the forecasting would remain doubtful if it made on the bases of ARMA model. It has been concluded that VAR model provides best forecasting results. Practical Implications: This paper provides empirical evidences for the application of time series forecasting model. This paper therefore provides the base for the application of best time series forecasting model.Keywords: forecasting, time series, auto regression, ARCH, ARMA
Procedia PDF Downloads 3487897 pscmsForecasting: A Python Web Service for Time Series Forecasting
Authors: Ioannis Andrianakis, Vasileios Gkatas, Nikos Eleftheriadis, Alexios Ellinidis, Ermioni Avramidou
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pscmsForecasting is an open-source web service that implements a variety of time series forecasting algorithms and exposes them to the user via the ubiquitous HTTP protocol. It allows developers to enhance their applications by adding time series forecasting functionalities through an intuitive and easy-to-use interface. This paper provides some background on time series forecasting and gives details about the implemented algorithms, aiming to enhance the end user’s understanding of the underlying methods before incorporating them into their applications. A detailed description of the web service’s interface and its various parameterizations is also provided. Being an open-source project, pcsmsForecasting can also be easily modified and tailored to the specific needs of each application.Keywords: time series, forecasting, web service, open source
Procedia PDF Downloads 837896 Wind Power Forecasting Using Echo State Networks Optimized by Big Bang-Big Crunch Algorithm
Authors: Amir Hossein Hejazi, Nima Amjady
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In recent years, due to environmental issues traditional energy sources had been replaced by renewable ones. Wind energy as the fastest growing renewable energy shares a considerable percent of energy in power electricity markets. With this fast growth of wind energy worldwide, owners and operators of wind farms, transmission system operators, and energy traders need reliable and secure forecasts of wind energy production. In this paper, a new forecasting strategy is proposed for short-term wind power prediction based on Echo State Networks (ESN). The forecast engine utilizes state-of-the-art training process including dynamical reservoir with high capability to learn complex dynamics of wind power or wind vector signals. The study becomes more interesting by incorporating prediction of wind direction into forecast strategy. The Big Bang-Big Crunch (BB-BC) evolutionary optimization algorithm is adopted for adjusting free parameters of ESN-based forecaster. The proposed method is tested by real-world hourly data to show the efficiency of the forecasting engine for prediction of both wind vector and wind power output of aggregated wind power production.Keywords: wind power forecasting, echo state network, big bang-big crunch, evolutionary optimization algorithm
Procedia PDF Downloads 5727895 Forecasting Stock Prices Based on the Residual Income Valuation Model: Evidence from a Time-Series Approach
Authors: Chen-Yin Kuo, Yung-Hsin Lee
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Previous studies applying residual income valuation (RIV) model generally use panel data and single-equation model to forecast stock prices. Unlike these, this paper uses Taiwan longitudinal data to estimate multi-equation time-series models such as Vector Autoregressive (VAR), Vector Error Correction Model (VECM), and conduct out-of-sample forecasting. Further, this work assesses their forecasting performance by two instruments. In favor of extant research, the major finding shows that VECM outperforms other three models in forecasting for three stock sectors over entire horizons. It implies that an error correction term containing long-run information contributes to improve forecasting accuracy. Moreover, the pattern of composite shows that at longer horizon, VECM produces the greater reduction in errors, and performs substantially better than VAR.Keywords: residual income valuation model, vector error correction model, out of sample forecasting, forecasting accuracy
Procedia PDF Downloads 3167894 Two Day Ahead Short Term Load Forecasting Neural Network Based
Authors: Firas M. Tuaimah
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This paper presents an Artificial Neural Network based approach for short-term load forecasting and exactly for two days ahead. Two seasons have been discussed for Iraqi power system, namely summer and winter; the hourly load demand is the most important input variables for ANN based load forecasting. The recorded daily load profile with a lead time of 1-48 hours for July and December of the year 2012 was obtained from the operation and control center that belongs to the Ministry of Iraqi electricity. The results of the comparison show that the neural network gives a good prediction for the load forecasting and for two days ahead.Keywords: short-term load forecasting, artificial neural networks, back propagation learning, hourly load demand
Procedia PDF Downloads 4647893 Time Series Modelling for Forecasting Wheat Production and Consumption of South Africa in Time of War
Authors: Yiseyon Hosu, Joseph Akande
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Wheat is one of the most important staple food grains of human for centuries and is largely consumed in South Africa. It has a special place in the South African economy because of its significance in food security, trade, and industry. This paper modelled and forecast the production and consumption of wheat in South Africa in the time covid-19 and the ongoing Russia-Ukraine war by using annual time series data from 1940–2021 based on the ARIMA models. Both the averaging forecast and selected models forecast indicate that there is the possibility of an increase with respect to production. The minimum and maximum growth in production is projected to be between 3million and 10 million tons, respectively. However, the model also forecast a possibility of depression with respect to consumption in South Africa. Although Covid-19 and the war between Ukraine and Russia, two major producers and exporters of global wheat, are having an effect on the volatility of the prices currently, the wheat production in South African is expected to increase and meat the consumption demand and provided an opportunity for increase export with respect to domestic consumption. The forecasting of production and consumption behaviours of major crops play an important role towards food and nutrition security, these findings can assist policymakers and will provide them with insights into the production and pricing policy of wheat in South Africa.Keywords: ARIMA, food security, price volatility, staple food, South Africa
Procedia PDF Downloads 1027892 Forecasting Future Demand for Energy Efficient Vehicles: A Review of Methodological Approaches
Authors: Dimitrios I. Tselentis, Simon P. Washington
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Considerable literature has been focused over the last few decades on forecasting the consumer demand of Energy Efficient Vehicles (EEVs). These methodological issues range from how to capture recent purchase decisions in revealed choice studies and how to set up experiments in stated preference (SP) studies, and choice of analysis method for analyzing such data. This paper reviews the plethora of published studies on the field of forecasting demand of EEVs since 1980, and provides a review and annotated bibliography of that literature as it pertains to this particular demand forecasting problem. This detailed review addresses the literature not only to Transportation studies, but specifically to the problem and methodologies around forecasting to the time horizons of planning studies which may represent 10 to 20 year forecasts. The objectives of the paper are to identify where existing gaps in literature exist and to articulate where promising methodologies might guide longer term forecasting. One of the key findings of this review is that there are many common techniques used both in the field of new product demand forecasting and the field of predicting future demand for EEV. Apart from SP and RP methods, some of these new techniques that have emerged in the literature in the last few decades are survey related approaches, product diffusion models, time-series modelling, computational intelligence models and other holistic approaches.Keywords: demand forecasting, Energy Efficient Vehicles (EEVs), forecasting methodologies review, methodological approaches
Procedia PDF Downloads 4897891 Forecasting of Grape Juice Flavor by Using Support Vector Regression
Authors: Ren-Jieh Kuo, Chun-Shou Huang
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The research of juice flavor forecasting has become more important in China. Due to the fast economic growth in China, many different kinds of juices have been introduced to the market. If a beverage company can understand their customers’ preference well, the juice can be served more attractively. Thus, this study intends to introduce the basic theory and computing process of grapes juice flavor forecasting based on support vector regression (SVR). Applying SVR, BPN and LR to forecast the flavor of grapes juice in real data, the result shows that SVR is more suitable and effective at predicting performance.Keywords: flavor forecasting, artificial neural networks, Support Vector Regression, China
Procedia PDF Downloads 4927890 Artificial Neural Network-Based Short-Term Load Forecasting for Mymensingh Area of Bangladesh
Authors: S. M. Anowarul Haque, Md. Asiful Islam
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Electrical load forecasting is considered to be one of the most indispensable parts of a modern-day electrical power system. To ensure a reliable and efficient supply of electric energy, special emphasis should have been put on the predictive feature of electricity supply. Artificial Neural Network-based approaches have emerged to be a significant area of interest for electric load forecasting research. This paper proposed an Artificial Neural Network model based on the particle swarm optimization algorithm for improved electric load forecasting for Mymensingh, Bangladesh. The forecasting model is developed and simulated on the MATLAB environment with a large number of training datasets. The model is trained based on eight input parameters including historical load and weather data. The predicted load data are then compared with an available dataset for validation. The proposed neural network model is proved to be more reliable in terms of day-wise load forecasting for Mymensingh, Bangladesh.Keywords: load forecasting, artificial neural network, particle swarm optimization
Procedia PDF Downloads 1717889 A Case Study of Typhoon Tracks: Insights from the Interaction between Typhoon Hinnamnor and Ocean Currents in 2022
Authors: Wei-Kuo Soong
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The forecasting of typhoon tracks remains a formidable challenge, primarily attributable to the paucity of observational data in the open sea and the intricate influence of weather systems at varying scales. This study investigates the case of Typhoon Hinnamnor in 2022, examining its trajectory and intensity fluctuations in relation to the interaction with a concurrent tropical cyclone and sea surface temperatures (SST). Utilizing the Weather Research and Forecasting Model (WRF), to simulate and analyze the interaction between Typhoon Hinnamnor and its environmental factors, shedding light on the mechanisms driving typhoon development and enhancing forecasting capabilities.Keywords: typhoon, sea surface temperature, forecasting, WRF
Procedia PDF Downloads 527888 Applying Arima Data Mining Techniques to ERP to Generate Sales Demand Forecasting: A Case Study
Authors: Ghaleb Y. Abbasi, Israa Abu Rumman
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This paper modeled sales history archived from 2012 to 2015 bulked in monthly bins for five products for a medical supply company in Jordan. The sales forecasts and extracted consistent patterns in the sales demand history from the Enterprise Resource Planning (ERP) system were used to predict future forecasting and generate sales demand forecasting using time series analysis statistical technique called Auto Regressive Integrated Moving Average (ARIMA). This was used to model and estimate realistic sales demand patterns and predict future forecasting to decide the best models for five products. Analysis revealed that the current replenishment system indicated inventory overstocking.Keywords: ARIMA models, sales demand forecasting, time series, R code
Procedia PDF Downloads 3857887 Electric Load Forecasting Based on Artificial Neural Network for Iraqi Power System
Authors: Afaneen Anwer, Samara M. Kamil
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Load Forecast required prediction accuracy based on optimal operation and maintenance. A good accuracy is the basis of economic dispatch, unit commitment, and system reliability. A good load forecasting system fulfilled fast speed, automatic bad data detection, and ability to access the system automatically to get the needed data. In this paper, the formulation of the load forecasting is discussed and the solution is obtained by using artificial neural network method. A MATLAB environment has been used to solve the load forecasting schedule of Iraqi super grid network considering the daily load for three years. The obtained results showed a good accuracy in predicting the forecasted load.Keywords: load forecasting, neural network, back-propagation algorithm, Iraqi power system
Procedia PDF Downloads 5837886 Improving Forecasting Demand for Maintenance Spare Parts: Case Study
Authors: Abdulaziz Afandi
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Minimizing the inventory cost, optimizing the inventory quantities, and increasing system operational availability are the main motivations to enhance forecasting demand of spare parts in a major power utility company in Medina. This paper reports in an effort made to optimize the orders quantities of spare parts by improving the method of forecasting the demand. The study focuses on equipment that has frequent spare parts purchase orders with uncertain demand. The pattern of the demand considers a lumpy pattern which makes conventional forecasting methods less effective. A comparison was made by benchmarking various methods of forecasting based on experts’ criteria to select the most suitable method for the case study. Three actual data sets were used to make the forecast in this case study. Two neural networks (NN) approaches were utilized and compared, namely long short-term memory (LSTM) and multilayer perceptron (MLP). The results as expected, showed that the NN models gave better results than traditional forecasting method (judgmental method). In addition, the LSTM model had a higher predictive accuracy than the MLP model.Keywords: neural network, LSTM, MLP, forecasting demand, inventory management
Procedia PDF Downloads 1277885 Electricity Price Forecasting: A Comparative Analysis with Shallow-ANN and DNN
Authors: Fazıl Gökgöz, Fahrettin Filiz
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Electricity prices have sophisticated features such as high volatility, nonlinearity and high frequency that make forecasting quite difficult. Electricity price has a volatile and non-random character so that, it is possible to identify the patterns based on the historical data. Intelligent decision-making requires accurate price forecasting for market traders, retailers, and generation companies. So far, many shallow-ANN (artificial neural networks) models have been published in the literature and showed adequate forecasting results. During the last years, neural networks with many hidden layers, which are referred to as DNN (deep neural networks) have been using in the machine learning community. The goal of this study is to investigate electricity price forecasting performance of the shallow-ANN and DNN models for the Turkish day-ahead electricity market. The forecasting accuracy of the models has been evaluated with publicly available data from the Turkish day-ahead electricity market. Both shallow-ANN and DNN approach would give successful result in forecasting problems. Historical load, price and weather temperature data are used as the input variables for the models. The data set includes power consumption measurements gathered between January 2016 and December 2017 with one-hour resolution. In this regard, forecasting studies have been carried out comparatively with shallow-ANN and DNN models for Turkish electricity markets in the related time period. The main contribution of this study is the investigation of different shallow-ANN and DNN models in the field of electricity price forecast. All models are compared regarding their MAE (Mean Absolute Error) and MSE (Mean Square) results. DNN models give better forecasting performance compare to shallow-ANN. Best five MAE results for DNN models are 0.346, 0.372, 0.392, 0,402 and 0.409.Keywords: deep learning, artificial neural networks, energy price forecasting, turkey
Procedia PDF Downloads 2927884 Estimation and Forecasting with a Quantile AR Model for Financial Returns
Authors: Yuzhi Cai
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This talk presents a Bayesian approach to quantile autoregressive (QAR) time series model estimation and forecasting. We establish that the joint posterior distribution of the model parameters and future values is well defined. The associated MCMC algorithm for parameter estimation and forecasting converges to the posterior distribution quickly. We also present a combining forecasts technique to produce more accurate out-of-sample forecasts by using a weighted sequence of fitted QAR models. A moving window method to check the quality of the estimated conditional quantiles is developed. We verify our methodology using simulation studies and then apply it to currency exchange rate data. An application of the method to the USD to GBP daily currency exchange rates will also be discussed. The results obtained show that an unequally weighted combining method performs better than other forecasting methodology.Keywords: combining forecasts, MCMC, quantile modelling, quantile forecasting, predictive density functions
Procedia PDF Downloads 3477883 Forecasting Unemployment Rate in Selected European Countries Using Smoothing Methods
Authors: Ksenija Dumičić, Anita Čeh Časni, Berislav Žmuk
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The aim of this paper is to select the most accurate forecasting method for predicting the future values of the unemployment rate in selected European countries. In order to do so, several forecasting techniques adequate for forecasting time series with trend component, were selected, namely: double exponential smoothing (also known as Holt`s method) and Holt-Winters` method which accounts for trend and seasonality. The results of the empirical analysis showed that the optimal model for forecasting unemployment rate in Greece was Holt-Winters` additive method. In the case of Spain, according to MAPE, the optimal model was double exponential smoothing model. Furthermore, for Croatia and Italy the best forecasting model for unemployment rate was Holt-Winters` multiplicative model, whereas in the case of Portugal the best model to forecast unemployment rate was Double exponential smoothing model. Our findings are in line with European Commission unemployment rate estimates.Keywords: European Union countries, exponential smoothing methods, forecast accuracy unemployment rate
Procedia PDF Downloads 3697882 Load Forecasting in Microgrid Systems with R and Cortana Intelligence Suite
Authors: F. Lazzeri, I. Reiter
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Energy production optimization has been traditionally very important for utilities in order to improve resource consumption. However, load forecasting is a challenging task, as there are a large number of relevant variables that must be considered, and several strategies have been used to deal with this complex problem. This is especially true also in microgrids where many elements have to adjust their performance depending on the future generation and consumption conditions. The goal of this paper is to present a solution for short-term load forecasting in microgrids, based on three machine learning experiments developed in R and web services built and deployed with different components of Cortana Intelligence Suite: Azure Machine Learning, a fully managed cloud service that enables to easily build, deploy, and share predictive analytics solutions; SQL database, a Microsoft database service for app developers; and PowerBI, a suite of business analytics tools to analyze data and share insights. Our results show that Boosted Decision Tree and Fast Forest Quantile regression methods can be very useful to predict hourly short-term consumption in microgrids; moreover, we found that for these types of forecasting models, weather data (temperature, wind, humidity and dew point) can play a crucial role in improving the accuracy of the forecasting solution. Data cleaning and feature engineering methods performed in R and different types of machine learning algorithms (Boosted Decision Tree, Fast Forest Quantile and ARIMA) will be presented, and results and performance metrics discussed.
Keywords: time-series, features engineering methods for forecasting, energy demand forecasting, Azure Machine Learning
Procedia PDF Downloads 2977881 Estimation and Forecasting Debris Flow Phenomena on the Highway of the 'TRACECA' Corridor
Authors: Levan Tsulukidze
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The paper considers debris flow phenomena and forecasting of them in the corridor of ‘TRACECA’ on the example of river Naokhrevistkali, as well as the debris flow -type channel passing between the villages of Vale-2 and Naokhrevi. As a result of expeditionary and reconnaissance investigations, as well as using empiric dependencies, the debris flow expenditure has been estimated in case of different debris flow provisions.Keywords: debris flow, Traceca corridor, forecasting, river Naokhrevistkali
Procedia PDF Downloads 3537880 Forecasting Optimal Production Program Using Profitability Optimization by Genetic Algorithm and Neural Network
Authors: Galal H. Senussi, Muamar Benisa, Sanja Vasin
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In our business field today, one of the most important issues for any enterprises is cost minimization and profit maximization. Second issue is how to develop a strong and capable model that is able to give us desired forecasting of these two issues. Many researches deal with these issues using different methods. In this study, we developed a model for multi-criteria production program optimization, integrated with Artificial Neural Network. The prediction of the production cost and profit per unit of a product, dealing with two obverse functions at same time can be extremely difficult, especially if there is a great amount of conflict information about production parameters. Feed-Forward Neural Networks are suitable for generalization, which means that the network will generate a proper output as a result to input it has never seen. Therefore, with small set of examples the network will adjust its weight coefficients so the input will generate a proper output. This essential characteristic is of the most important abilities enabling this network to be used in variety of problems spreading from engineering to finance etc. From our results as we will see later, Feed-Forward Neural Networks has a strong ability and capability to map inputs into desired outputs.Keywords: project profitability, multi-objective optimization, genetic algorithm, Pareto set, neural networks
Procedia PDF Downloads 4457879 Analysis of Production Forecasting in Unconventional Gas Resources Development Using Machine Learning and Data-Driven Approach
Authors: Dongkwon Han, Sangho Kim, Sunil Kwon
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Unconventional gas resources have dramatically changed the future energy landscape. Unlike conventional gas resources, the key challenges in unconventional gas have been the requirement that applies to advanced approaches for production forecasting due to uncertainty and complexity of fluid flow. In this study, artificial neural network (ANN) model which integrates machine learning and data-driven approach was developed to predict productivity in shale gas. The database of 129 wells of Eagle Ford shale basin used for testing and training of the ANN model. The Input data related to hydraulic fracturing, well completion and productivity of shale gas were selected and the output data is a cumulative production. The performance of the ANN using all data sets, clustering and variables importance (VI) models were compared in the mean absolute percentage error (MAPE). ANN model using all data sets, clustering, and VI were obtained as 44.22%, 10.08% (cluster 1), 5.26% (cluster 2), 6.35%(cluster 3), and 32.23% (ANN VI), 23.19% (SVM VI), respectively. The results showed that the pre-trained ANN model provides more accurate results than the ANN model using all data sets.Keywords: unconventional gas, artificial neural network, machine learning, clustering, variables importance
Procedia PDF Downloads 196