Unmatched reliability for forecasting price, load, and generation
Forecaster™
Hitachi Energy’s Forecaster is a true technical innovation representing a substantial leap forward in the ability to deliver more detailed, relevant, and accurate power generation, consumption, and pricing forecasts. Forecaster arms utilities and energy companies with data-driven insights that help them make better operational and financial decisions for short- and long-term planning to help mitigate risk and seize opportunity.
Based on advanced models, Forecaster can be easily configured to meet specific needs of any country or energy market. Predictions are derived using two methods: neural network technology for short-term forecasts and multiple linear regression techniques for longer time horizons.
Forecaster enables organizations to improve forecast accuracy by tracking forecasts with actual values and integrating new data as soon as it becomes available. The neural network algorithm becomes progressively smarter as it learns load and price variables triggered by weather events, time-of-day cycles, holidays and other historical data.
“A core part of Hitachi Energy’s score for innovation derives from its combination of operational analytics with analytics for finance and risk (bringing together load forecasting and trading, for example). This is relatively rare in the power space and provides tangible benefits.”
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