Predictive and Prescriptive Analytics Using Machine Learning

The complexity, criticality, and real-time demands of the energy sector make it a prime candidate to benefit from applying machine learning. This session presents two case studies of machine learning automating decisions for energy companies.

For the largest windfarm operator in North America, machine learning applies predictive and prescriptive analytics to the complex task of scheduling crews for maintenance and repairs. Automating the scheduling process across multiple windfarm sites saves the operator millions in labor costs per year and frees managers and crews to do actual work. Machine learning also evaluates ever-changing conditions and automatically reschedules workers and tasks as necessary.

For a large European energy company, online machine learning provides a systematic and automated approach to commodities trading, including creating and executing trading strategy and predicting prices.

Speaker: Paul Hofman, Space-Time Insight