Energy Planning and Analytics Software: NOSTRADAMUS
Demand and Price Forecasting
NOSTRADAMUS is a neural network-based, short-term demand and price forecasting system, utilized by electric and gas utilities, system operators and power pools, electric cooperatives, energy marketers, and gas pipelines.
Using the latest advancements in neural network technology, NOSTRADAMUS learns the relationships among any number of data inputs to automatically produce and disseminate accurate daily and hourly demand and price forecasts. This process can be executed automatically on a schedule defined by the user.
Key Features
NOSTRADAMUS can help you see the future before your competition does. Some of the ways in which it does so include:
Neural Network Technology
Determine non-linear relationships between dependent and independent variables, more accurately capturing forecast peaks and valleys.
Dynamic Weighting and Adaptive-Biased Adjustment
Improve forecast accuracy by making small adjustments to the neural network models based on recent trends.
Sensitivity Analysis
Utilize the sensitivity of the neural network to track changes in input data for a better understanding of relevant inputs, leading to an increase in forecast accuracy.
Comprehensive Statistics
Evaluate historical data for load or price areas through a greater understanding of inputs and identification of data anomalies.
Automated Scheduling
The AutoNOST feature provides the user with event-driven or time-based automation. AutoNOST allows the user to schedule data acquisition, prepare load and price forecasts, and quickly export results and/or reports. With the event-driven scheduling feature, AutoNOST can automatically generate new forecasts whenever new data is made available to the system. The user is able to effortlessly produce forecasts for multiple independent geographical regions, process the results, and generate customized reports based on up-to-the-minute weather, demand, and price data.
Flexible Data Integration
Using Microsoft Excel or Access macros, users can integrate NOSTRADAMUS with most other data storage systems.
Customizable Reports
Analyze specific data areas with outputs sent to Microsoft Excel, Access, and/or HTML.
Key Benefits
NOSTRADAMUS can be deployed as a standalone application or as part of an integrated planning or operations suite. Whether implemented as a standalone solution or as a component of a larger solution, users will realize the following key benefits:
- Reduced expensive labor-intensive processes
- Decreased and/or limited imbalance and penalty costs
- Minimized demand capacity charges
- Reduced use of costly peaking resources
