K-Forecast is a comprehensive power generation and demand forecasting tool for modern energy market participants and other energy utilities.
K- Forecast is an analytical tool which yields accurate and reliable information to support advanced business processes: long term portfolio position assessment, competitive customer evaluation, risk assessment support, transmission and distribution system scheduling.
- Control you time series data
- Test and compare different forecasting models
- Keep revision tracking and provide data serialization
- Mitigate risk
- Seamless external data and IS integrations
K- Forecast supports following Business Processes:
Time Series Data Management
- Data acquisition, validation, aggregation and substitution
- User managed business rules importer engine
- XML configuration storage for easy and seamless integrations of new data sources
Time series data management is based on state-of-the-art, user managed business rules importer engine. It includes automated and scheduled uploading, validating, and data aggregation from different (measurements, weather, etc) data sources. Introduces optimized bulk-import of large data, based on latest big data manipulation technologies. Integrated data quality management (DQM) provides quality assessment, design, transforming and monitoring.
- Top-down or bottom-up approach
- Adaptable models assignation
- Long and short term demand forecasting
- Multiple energy sources power forecasting
Forecasting of customers energy demand anticipation supports either top down or bottom-up approach. Models can be assigned either to individual entity or groups as a whole. K- FORECAST supports long and short term demand forecast as well as solar power, wind power, hydro power and cogeneration power forecast. Additionally, intraday forecasts are available.
- Pre-defined forecasting methodologies
- Customer specific procedures integration
- Model hierarchy support
Many pre-defined forecasting methodologies are available, while customer specific procedures can be integrated (on-the-fly / without code change). The application offers multiple modifications of the pre-defined models for fine-tuning purpose. The hierarchy of models can be implemented in the forecasting process, what gives the application extensive ability for automation.
- Model testing and evaluation based on Historical Data
- Business proven KPIs
- User defined model building and testing
Pre-defined and user defined models can be tested on real historical data for models evaluation. Many businesses proven KPI are available in the analytical tool. The tool provides extensive support for user defined model building and testing.
- Revision tracking and data serialization
- External data and application integration
- Mathematical tools data integrations
Additional features implements revision tracking and data serialization, comprehensive application and external data integration, and integration with external systems, which enables efficient workflow without any human errors.