Making data-driven decisions can help utility companies optimise the production of critical goods, but the challenge is finding an accurate way to forecast short-term demand or forecasting for renewable energy.
ZONOS™ 24insight is the solution. As a module component of the ZONOS™ IoT Platform, this powerful data analysis software can make both real- and short-term forecasts with high-level accuracy.
Using a combination of state-of-the-art machine learning algorithms and historical time-series data, ZONOS™ 24insight offers a reliable and user-friendly way to integrate accurate demand forecasting, or renewable energy forecasting, into your utility provision.Our Live Demo shows how ZONOS™ 24insight minimises forecast error and outperforms local transmission system operators (TSOs).
Key benefits of ZONOS™ 24insight:
- Reduce your costs. Using accurate data to drive decisions makes it easier to accurately forecast when you may need to buy (or sell) critical goods to meet the current demand in your region. Using ZONOS™ 24insight helps reduce costs by allowing for custom cost functions that make precise predictions. This can decrease your operating costs and increase efficiency because ZONOS™ 24insight only needs a single training phase rather than multiple manual training phases that other solutions often need to maintain high forecast accuracy.
- Balance supply and demand. By better planning your energy production, you can allow for optimal energy efficiency to maintain grid stability. ZONOS™ 24insight allows you to leverage data-supported short-term forecasting, which also reduces greenhouse gas emissions because the production of critical goods can be matched more closely to the demand. This results in less energy wasted, and fewer greenhouse gases.
- Stay compliant. In some locations, operators may be fined if their forecasts differ too greatly from real-time values. ZONOS™ 24insight helps you stay compliant and meet the demands of new regulations. For example, in some countries, wind and solar farm operators need to provide renewable energy forecasting to state the quantity of the energy they plan to feed into the grid over a given period. If the quantity is above a certain error range, then they may have to pay a penalty as a result. Similarly, the German-specific regulation Redispatch 2.0 states that distribution system operators must guarantee the balance of supply and demand in their local grid.
- Plan for the future. As we transition towards the integration of renewable energy sources, ZONOS™ 24insight can help you balance supply and demand for emerging use cases like virtual power plants and dynamic environments like mix-energy grid systems. Traditional forecasting techniques often can’t account for these dynamics, while ZONOS™ 24insight uses state-of-the-art forecasting capabilities to help you plan for the future.
Why choose ZONOS™ 24insight
Being able to reliably forecast the demand for critical goods is essential for energy operators. This can be a major challenge due to the difficulty that traditional forecasting techniques have in analysing the complex interactions between socio-economic and meteorological factors that affect the usage of critical goods. If the forecasts are wrong, your utility company may be fined as a result. ZONOS™ 24insight offers a user-friendly interface, for example, that seamlessly integrates into your current systems using the ZONOS™ API.
Using data pulled from the ZONOS™ IoT Platform, ZONOS™ 24insight uses proprietary data analysis technologies to offer accurate forecasts for all critical goods. Even when energy consumption patterns are non-linear, we offer a high forecast accuracy with less than three per cent error possible in some scenarios. It’s always possible to easily access all forecasts, plus a summary of past forecasts and their performance, using the dashboard feature.
Forecast the future with ZONOS™ 24insight
Cuculus and ZONOS™ 24insight can help you accurately forecast the supply and demand of critical goods. By making sure these values are as close as possible, you can keep operating costs and greenhouse gas emissions to a minimum while also ensuring a consistent supply of critical goods.
Contact us to learn more about ZONOS™ 24insight today.