Forecasting teams find themselves trapped in the perpetual dilemma of accuracy versus speed. Existing forecasting solutions fall short, unable to deliver both.
Faced with this predicament, teams often opt for speed over accuracy, resorting to less precise calculations. Calculating at meter-level is then out of the question.
The consequence? Inaccurate forecasts, frequently deviating from the actual energy demand. This decision escalates financial risks, triggering upward aggregation and potentially resulting in imbalances and penalties.
Conventional forecasting solutions often entail labour-intensive processes, demanding substantial manual effort from Forecasting analysts.
On a daily basis, these analysts invest two to three hours manually reviewing and editing forecasts. Additionally, considerable time is devoted to collecting relevant data from various external sources and integrating information from disparate systems.
The absence of automation necessitates hours of manual work, involving data cleaning, aggregation, and detailed analysis. It not only consumes valuable time but also poses challenges in ensuring data accuracy and efficiency.
Future-proof your systems and choose to:
Combine speed and meter-level accuracy through industry-leading performance
Reduce your risk and lower hedging costs through accurate forecasting
Improve data quality with automated data input, validation, and enhancements
Boost operational efficiency through automation and let your team focus on value-add tasks