Application of Analytics using R Programming for Forecasting Day-ahead Electricity Demand
Analytics technologies are becoming increasingly important for the organizations to mine and get insights into large amount of structured and unstructured data, and also to enable effective decision making for the management. One of the challenges for power industry is to estimate the Day-ahead power demand specifically to predict the peak and low demand periods. In this paper, the modeling techniques of analytics for forecasting are discussed. This paper investigates application of ARMA and GARCH modeling techniques to fit the historical data and estimate the coefficients to predict the Day-ahead electricity demand. R-Programming is used to fit the models.
Keywords: Analytics, ARMA, ARCH, Electricity Demand, Estimation, Forecasting, GARCH, Modeling, R-Code,R-Project
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ABOUT THE AUTHORS
Chandrabhushan Kesavabhotla
K Chandrabhushan received his M. Tech degree from Osmania University and B.Tech from Indian Institute of Science. He has over 2 decades of experience in IT Industry in the areas - IT Consultancy, Business Analytics, Enterprise Application Packages Implementation and Custom Development. He is doing his Ph. D from JNTU, Hyderabad, India, in Computer Science in Analytics area.
V V Haragopal
Dr. V V HaraGopal received his Ph.D in Statistics from Osmania University. He has been a full professor in the Department of Statistics and Head. He has published over 40 papers to his credit so far in the areas- Multivariate Data Analysis, Operations Research, Pattern Recognition, Image Processing and Group testing. He has conducted national and international level conferences.
A. Vinay Babu
Dr. A. Vinay Babu, Professor in Computer Science, Principal, JNTU, Hyderabad, India, received his Ph.D in Computer Science. He guided 9 PhDs and many more PhD Scholars are working under his Guidance. He has published more than 82 Research publications to his credit so far in his specialization such as algorithms, data mining, parallel algorithms, networks and related areas. He received various awards for his contribution such as “Jewel of India 08”, “Best Computer Science Teacher Award”, “Distinguished Academician”, and others
Chandrabhushan Kesavabhotla
K Chandrabhushan received his M. Tech degree from Osmania University and B.Tech from Indian Institute of Science. He has over 2 decades of experience in IT Industry in the areas - IT Consultancy, Business Analytics, Enterprise Application Packages Implementation and Custom Development. He is doing his Ph. D from JNTU, Hyderabad, India, in Computer Science in Analytics area.
V V Haragopal
Dr. V V HaraGopal received his Ph.D in Statistics from Osmania University. He has been a full professor in the Department of Statistics and Head. He has published over 40 papers to his credit so far in the areas- Multivariate Data Analysis, Operations Research, Pattern Recognition, Image Processing and Group testing. He has conducted national and international level conferences.
A. Vinay Babu
Dr. A. Vinay Babu, Professor in Computer Science, Principal, JNTU, Hyderabad, India, received his Ph.D in Computer Science. He guided 9 PhDs and many more PhD Scholars are working under his Guidance. He has published more than 82 Research publications to his credit so far in his specialization such as algorithms, data mining, parallel algorithms, networks and related areas. He received various awards for his contribution such as “Jewel of India 08”, “Best Computer Science Teacher Award”, “Distinguished Academician”, and others
