Case Study: a cloud-based energy software client improves electric consumption forecasting with ScienceSoft

a major energy company gets accurate hourly, daily, and weekly forecasts with ScienceSoft

The Client, an international company providing managed software solutions and consulting services to the energy sector, needed a third-party review of their stalled cloud-based data analytics product. They engaged ScienceSoft to analyze the software's existing development and provide recommendations to enhance its capabilities for electric energy consumption analysis and forecasting.

ScienceSoft's team analyzed the business objectives and proposed an enhanced software architecture. They delivered a detailed process for creating machine learning models, recommending specific techniques like LSTM neural networks and LightGBM to improve forecast accuracy. As a result, The Client obtained high-level architecture and actionable recommendations to build a product that would enable electric power companies to achieve accurate energy consumption forecasts and optimize their load management and price determination.