forecasting
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Rapid Forecasting of Short-run Electric Power Demand Profiles of India Using the Statistical Method of Z Scores
Abstract: Power demand profile prediction for a region or nation is a critical part of the energy system design and operational planning process. A simplified method based on non-dimensionalizing power demand data from previous years using Z scores calculated from the mean and standard deviation of the profiles is developed in this study to forecast monthly demand profiles at time resolution of 1 hour for future years. The Z score range …
Published in Research & Reviews : Journal of Statistics · Vol. 14, Issue 1, 2025 · pp. 38–48 Read article
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Using AIML to Enhance Demand Forecasting in Business
Abstract: Artificial intelligence machine learning (AIML) can play a significant role in enhancing demand forecasting in business. AIML is a programming language designed for creating chatbots and conversational agents, but its application extends beyond simple interactions. In the context of demand forecasting, AIML can be utilized to analyze historical data, customer interactions, and market trends. By implementing AIML algorithms, businesses can create intelligent models that learn from past demand patterns, customer …
Published in Journal of Computer Technology & Applications · Vol. 15, Issue 1, 2024 · pp. 35–40 Read article