Wind Power Forecasting

The wind power generation depends on wind speed and its derivatives like: wind speed and direction. With consideration of stochastic nature of wind power, this work addresses three main issues: first, it discusses the state of art of energy forecasting with emphasis on wind power forecasting. It provides an overview of different variables on which wind power generation depends and explains various key features regarding the design framework of forecasting models. Second, it performs an assessment, detailed comparison and evaluation of the forecasting performance of various types of models; and third, evaluates the uncertainty of expected outcomes with the help of probabilistic measures.

Seeking Accuracy in Forecasting Demand and Selling Prices: Comparison of Various Methods

The need for a good forecast estimate is imperative for managing flows in a supply chain. For this, it is necessary to make forecasts and integrate them into the flow control models, in particular in contexts where demand is very variable. However, forecasts are never reliable, hence the need to give a measure of the quality of these forecasts, by giving a measure of the forecast uncertainty linked to the estimate made. Different forecasting models have been developed in the past, particularly in the statistical area. Before going to our application on real industrial cases which highlights a prospective study of demand forecasting and a comparative study of sales price forecasts, we begin, in the first section of this chapter, by presenting the forecasting models, as well as their validation and monitoring.