SAS recently announced the availability of its new SAS Energy Forecasting offering, which is designed to help utilities operate more efficiently by capitalizing on new interval data from smart meters. According to the company, SAS Energy Forecasting is unlike other load forecasting software in that it supports multiple planning horizons -- from the next hour to the next 50 years.
Utilities have successfully used forecasting in the past. Today's new challenges, including the added complexity of wind- and solar-power generation, require even greater attention to the data sets and models that feed those forecasts.
"SAS recognized the opportunity for utilities to use big data to make a marked improvement in forecasting effectiveness," said Alyssa Farrell, SAS Global Marketing Manager for Energy and Utilities. "Working with our customers, we developed SAS Energy Forecasting to go beyond what any forecaster has had access to before. We include utility-specific forecasting models and a comprehensive forecasting toolset for further refinement or custom configuration. Data mining and other analytical methods produce forecasts that more accurately reflect business realities and better guide decision makers ranging from load forecasters to senior executives."
"Forecasting technologies can help utilities optimize processes across the value chain, from energy trading to demand-side management," said Stuart Ravens, Principal Analyst at Ovum Energy and Sustainability. "SAS Energy Forecasting positions this company at the forefront of the development of analytics products specifically for the utilities industry."