Reliable forecasts of consumption and generation are critical in the energy sector.
Read here how a transmission system operator used Visplore to detect model anomalies and forecast drifts 30 % earlier and improved model accuracy by 5 %, on average.
Visplore Professional features a ready-to-use solution for diagnostics of all energy forecasts – from own models as well as from forecast service providers.
Quickly grasp the error distribution including trends and outliers of forecast models over time.
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Use the “Prediction vs Reference” line plots to quickly inspect where forecast are off to a larger degree.
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With increasing decentralization and the expansion of renewable energy sources, reliably good forecast models of consumption and generation have become a critical factor in the energy sector. Thus, the purpose of forecast monitoring and diagnostics is to detect temporary anomalies and slow drifts for a multitude of models as fast as possible.
However, it is increasingly challenging to keep track of an ever-growing number of forecast models – often several thousand – in terms of quality and timeliness. Even more so as models can quickly become outdated due to the expansion of renewable energy, for example. It is therefore necessary to monitor a large number of models with minimal effort in order to detect negative trends in forecast quality early on and identify the causes of this deterioration.
Visplore reduce these challenges to a minimum – and enables you to detect badly performing models and deteriorating trends much earlier.
To get started with forecast monitoring read our use case tutorial!
