Cisco CloudCenter: Get the Hybrid IT Advantage

Load Forecasting

Definition - What does Load Forecasting mean?

Load forecasting is a technique used by power or energy-providing companies to predict the power/energy needed to meet the demand and supply equilibrium. The accuracy of forecasting is of great significance for the operational and managerial loading of a utility company.

Techopedia explains Load Forecasting

Most forecasting methods use numerical techniques or AI algorithms such as recession, neural networks and indistinct logic. Load forecasting can be short-term (a few hours), medium-term (a few weeks up to a year) or long-term (over a year). The end-use and econometric approach is used for medium- and long-term forecasting, whereas the similar-day approach, various regression models, time series, neural networks, statistical learning algorithms and fuzzy logic have been devised for short-term forecasting. Depending on the time-series forecasting, the results can be categorized as:

  • Seasonal — Use of certain utility increases or decreases with season
  • Trend — On certain events
  • Random — No specific cause
This definition was written in the context of Electric power engineering
Share this:

Connect with us

Email Newsletter

Join thousands of others with our weekly newsletter

The 4th Era of IT Infrastructure: Superconverged Systems
The 4th Era of IT Infrastructure: Superconverged Systems:
Learn the benefits and limitations of the 3 generations of IT infrastructure – siloed, converged and hyperconverged – and discover how the 4th...
Approaches and Benefits of Network Virtualization
Approaches and Benefits of Network Virtualization:
Businesses today aspire to achieve a software-defined datacenter (SDDC) to enhance business agility and reduce operational complexity. However, the...
Free E-Book: Public Cloud Guide
Free E-Book: Public Cloud Guide:
This white paper is for leaders of Operations, Engineering, or Infrastructure teams who are creating or executing an IT roadmap.
Free Tool: Virtual Health Monitor
Free Tool: Virtual Health Monitor:
Virtual Health Monitor is a free virtualization monitoring and reporting tool for VMware, Hyper-V, RHEV, and XenServer environments.
Free 30 Day Trial – Turbonomic
Free 30 Day Trial – Turbonomic:
Turbonomic delivers an autonomic platform where virtual and cloud environments self-manage in real-time to assure application performance.