Industry Energy&Utilities
Fraud detection and power demand forecasting for more efficient business
Overview
With the rapid expansion of smart meters and self-generation systems, the exponential increase of highly-instrumented wells and green energy optimization, the analysis of data becomes critical.
How
Data analysis can provide a wealth of insights into energy consumption patterns.
Shapelets to the rescue
The diversity of data science methods means that it has the potential to be used in a wide range of industries, including the energy and engineering sectors.
Why
The energy industry is always evolving, and new technologies and innovations are always being made. Energy use is an important part of many industries, and it has always been so. These industries are notorious power hogs.
How did Shapelets help?
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Failure probability modelling
The application of a failure probability model is an important part of a company’s decision-making process. This provides an excellent opportunity to be one step ahead for the company’s management.
Optimizing Plant Performance
Any power outage or delay is simply a complication that leads to inefficiency. By monitoring performance and assets, we can prevent or at least control any inefficiency.
Optimizing Plant Performance
In recent years, power system engineers have used static algorithms and models rather than real-time solutions. Many energy and utility companies are now upgrading their systems to improve detection and prediction of outages.