Evaluation of ATM Cash Demand Process Factors Applied for Forecasting with CI Models

The purpose of cash management is to optimize distribution of cash. Effective cash management brings savings to retail banks that are related to: dormant cash reduction; reduced replenishment costs; decrease of cash preparation costs; reduction of cash insurance costs. Optimization of cash distribution for retail banking in ATM and branch networks requires estimation of cash demand/supply in the future. This estimation determines overall cash management efficiency: accurate cash demand estimation reduces bank overall costs. In order to estimate cash demand in the future, cash flow forecasting must be performed that is usually based on historical cash point (ATM or branch) cash flow data. Many factors that are uncertain and may change in time influence cash supply/demand process for cash point. These may change throughout cash points and are related to location, climate, holiday, celebration day and special event (such as salary days and sale of nearby supermarket) factors. Some factors affect cash demand periodically. Periodical factors form various seasonality in cash flow process: daily (related to intraday factors throughout the day), weekly (mostly related to weekend effects), monthly (related to payday) and yearly (related to climate seasons, tourist and student arrivals, periodical celebration days such as New Year) seasons. Uncertain (aperiodic) factors are mostly related to celebration days that do not occur periodically (such as Easter), structural break factors that form long term or permanent cash flow shift (new shopping mall near cash point, shift of working hours) and some may be temporal (reconstruction of nearby building that restricts cash point reachability). Those factors form cash flow process that contains linear or nonlinear trend, mixtures of various seasonal components (intraday, weekly, monthly yearly), level shifts and heteroscedastic uncertainty. So historical data-based forecasting models need to be able to approximate historical cash demand process as accurately as possible properly evaluating these factors and perform forecasting of cash flow in the future based on estimated empirical relationship.</p

Learning from Data to Optimize Control in Precision Farming

Precision farming is one way of many to meet a 70 percent increase in global demand for agricultural products on current agricultural land by 2050 at reduced need of fertilizers and efficient use of water resources. The catalyst for the emergence of precision farming has been satellite positioning and navigation followed by Internet-of-Things, generating vast information that can be used to optimize farming processes in real-time. Statistical tools from data mining, predictive modeling, and machine learning analyze pattern in historical data, to make predictions about future events as well as intelligent actions. This special issue presents the latest development in statistical inference, machine learning and optimum control for precision farming.Comment: Editorial of "Statistical Tools in Precision Farming", MDPI/Stat

Review of Low Voltage Load Forecasting: Methods, Applications, and Recommendations

The increased digitalisation and monitoring of the energy system opens up numerous opportunities to decarbonise the energy system. Applications on low voltage, local networks, such as community energy markets and smart storage will facilitate decarbonisation, but they will require advanced control and management. Reliable forecasting will be a necessary component of many of these systems to anticipate key features and uncertainties. Despite this urgent need, there has not yet been an extensive investigation into the current state-of-the-art of low voltage level forecasts, other than at the smart meter level. This paper aims to provide a comprehensive overview of the landscape, current approaches, core applications, challenges and recommendations. Another aim of this paper is to facilitate the continued improvement and advancement in this area. To this end, the paper also surveys some of the most relevant and promising trends. It establishes an open, community-driven list of the known low voltage level open datasets to encourage further research and development.Comment: 37 pages, 6 figures, 2 tables, review pape

Electricity consumption forecasting in office buildings: an artificial intelligence approach

The rising needs for increased energy efficiency and better use of renewable energy sources bring out the necessity for improved energy management and forecasting models. Electricity consumption, in particular, is subject to large variations due to the effect of multiple variables, such as the temperature, luminosity or humidity, and of course, consumers' habits. Current forecasting models are not able to deal adequately with the influence and correlation between the multiple involved variables. Hence, novel, adaptive forecasting models are needed. This paper presents a novel approach based on multiple artificial intelligence-based forecasting algorithms. The considered algorithms are artificial neural networks, support vector machines hybrid fuzzy inference systems, Wang and Mendel's fuzzy rule learning method and a genetic fuzzy system for fuzzy rule learning based on the MOGUL methodology. These algorithms are used to forecast the electricity consumption of a real office building, using multiple input variables and consumption disaggregation.This work has received funding from the European Union's Horizon 2020 research and innovation programme under project DOMINOES (grant agreement No 771066) and from FEDER Funds through COMPETE program and from National Funds through FCT under the project UID/EEA/00760/2019.info:eu-repo/semantics/publishedVersio

Generation of realistic scenarios for multi-agent simulation of electricity markets

Most market operators provide daily data on several market processes, including the results of all market transactions. The use of such data by electricity market simulators is essential for simulations quality, enabling the modelling of market behaviour in a much more realistic and efficient way. RealScen (Realistic Scenarios Generator) is a tool that creates realistic scenarios according to the purpose of the simulation: representing reality as it is, or on a smaller scale but still as representative as possible. This paper presents a novel methodology that enables RealScen to collect real electricity markets information and using it to represent market participants, as well as modelling their characteristics and behaviours. This is done using data analysis combined with artificial intelligence. This paper analyses the way players' characteristics are modelled, particularly in their representation in a smaller scale, simplifying the simulation while maintaining the quality of results. A study is also conducted, comparing real electricity market values with the market results achieved using the generated scenarios. The conducted study shows that the scenarios can fully represent the reality, or approximate it through a reduced number of representative software agents. As a result, the proposed methodology enables RealScen to represent markets behaviour, allowing the study and understanding of the interactions between market entities, and the study of new markets by assuring the realism of simulations.info:eu-repo/semantics/publishedVersio

A Hybrid Clustering and Classification Technique for Forecasting Short-Term Energy Consumption

Electrical energy distributor companies in Iran have to announce their energy demand at least three 3-day ahead of the market opening. Therefore, an accurate load estimation is highly crucial. This research invoked methodology based on CRISP data mining and used SVM, ANN, and CBA-ANN-SVM (a novel hybrid model of clustering with both widely used ANN and SVM) to predict short-term electrical energy demand of Bandarabbas. In previous studies, researchers introduced few effective parameters with no reasonable error about Bandarabbas power consumption. In this research we tried to recognize all efficient parameters and with the use of CBA-ANN-SVM model, the rate of error has been minimized. After consulting with experts in the field of power consumption and plotting daily power consumption for each week, this research showed that official holidays and weekends have impact on the power consumption. When the weather gets warmer, the consumption of electrical energy increases due to turning on electrical air conditioner. Also, con-sumption patterns in warm and cold months are different. Analyzing power consumption of the same month for different years had shown high similarity in power consumption patterns. Factors with high impact on power consumption were identified and statistical methods were utilized to prove their impacts. Using SVM, ANN and CBA-ANN-SVM, the model was built. Sine the proposed method (CBA-ANN-SVM) has low MAPE 5 1.474 (4 clusters) and MAPE 5 1.297 (3 clusters) in comparison with SVM (MAPE 5 2.015) and ANN (MAPE 5 1.790), this model was selected as the final model. The final model has the benefits from both models and the benefits of clustering. Clustering algorithm with discovering data structure, divides data into several clusters based on similarities and differences between them. Because data inside each cluster are more similar than entire data, modeling in each cluster will present better results. For future research, we suggest using fuzzy methods and genetic algorithm or a hybrid of both to forecast each cluster. It is also possible to use fuzzy methods or genetic algorithms or a hybrid of both without using clustering. It is issued that such models will produce better and more accurate results. This paper presents a hybrid approach to predict the electric energy usage of weather-sensitive loads. The presented methodutilizes the clustering paradigm along with ANN and SVMapproaches for accurate short-term prediction of electric energyusage, using weather data. Since the methodology beinginvoked in this research is based on CRISP data mining, datapreparation has received a gr eat deal of attention in thisresear ch. Once data pre-processing was done, the underlyingpattern of electric energy consumption was extracted by themeans of machine learning methods to precisely forecast short-term energy consumption. The proposed approach (CBA-ANN-SVM) was applied to real load data and resulting higher accu-racy comparing to the existing models. 2018 American Institute of Chemical Engineers Environ Prog, 2018 https://doi.org/10.1002/ep.1293

Energy Forecasting in Smart Grid Systems: A Review of the State-of-the-art Techniques

Energy forecasting has a vital role to play in smart grid (SG) systems involving various applications such as demand-side management, load shedding, and optimum dispatch. Managing efficient forecasting while ensuring the least possible prediction error is one of the main challenges posed in the grid today, considering the uncertainty and granularity in SG data. This paper presents a comprehensive and application-oriented review of state-of-the-art forecasting methods for SG systems along with recent developments in probabilistic deep learning (PDL) considering different models and architectures. Traditional point forecasting methods including statistical, machine learning (ML), and deep learning (DL) are extensively investigated in terms of their applicability to energy forecasting. In addition, the significance of hybrid and data pre-processing techniques to support forecasting performance is also studied. A comparative case study using the Victorian electricity consumption and American electric power (AEP) datasets is conducted to analyze the performance of point and probabilistic forecasting methods. The analysis demonstrates higher accuracy of the long-short term memory (LSTM) models with appropriate hyper-parameter tuning among point forecasting methods especially when sample sizes are larger and involve nonlinear patterns with long sequences. Furthermore, Bayesian bidirectional LSTM (BLSTM) as a probabilistic method exhibit the highest accuracy in terms of least pinball score and root mean square error (RMSE)