Open Access
Journal Article
Advanced Forecasting Methods for Energy Demand Prediction
by
John Anderson
TASC 2019 1(1):5; 10.69610/j.tasc.20191230 - 30 December 2019
Abstract
The paper explores the application of advanced forecasting methods in predicting energy demand, a critical aspect for managing and planning energy resources efficiently. With the increasing global focus on sustainability and the need for reliable energy systems, the accuracy of energy demand predictions is crucial for informed decision-making and resource allocation. This study
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The paper explores the application of advanced forecasting methods in predicting energy demand, a critical aspect for managing and planning energy resources efficiently. With the increasing global focus on sustainability and the need for reliable energy systems, the accuracy of energy demand predictions is crucial for informed decision-making and resource allocation. This study assesses various advanced forecasting techniques, including machine learning algorithms, time series analysis, and artificial intelligence models, to evaluate their efficacy in predicting energy demand. The paper outlines the methodology used, including the collection and preprocessing of large-scale energy consumption data, the selection of appropriate models, and the validation of predictions using historical data. The results demonstrate that integrating these advanced methods significantly enhances the accuracy and reliability of energy demand forecasts, providing valuable insights for policy-makers, energy providers, and researchers. Furthermore, the paper discusses the limitations of current forecasting methods and suggests potential future directions for improving energy demand prediction models.