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Predictive Analytics in Energy Sector Planning

by Daniel Smith 1,*
1
Daniel Smith
*
Author to whom correspondence should be addressed.
Received: 29 September 2021 / Accepted: 28 October 2020 / Published Online: 30 November 2021

Abstract

Predictive analytics has emerged as a crucial tool in the planning and optimization of the energy sector, offering a means to forecast future trends and behaviors in energy consumption and production. This paper delves into the application of predictive analytics in energy sector planning, examining how it enhances decision-making processes, optimizes resource allocation, and contributes to the development of sustainable energy strategies. By analyzing historical data and utilizing sophisticated algorithms, predictive analytics can identify patterns and correlations that may not be apparent through conventional methods. The study explores the use of predictive models, such as machine learning and time series analysis, to forecast energy demand, identify potential disruptions in supply chains, and evaluate the impact of policy changes on energy markets. Furthermore, the paper discusses the challenges associated with the implementation of predictive analytics, including data quality issues, model accuracy, and the need for interdisciplinary collaboration. Overall, this paper underscores the significance of predictive analytics in shaping the future of energy sector planning and provides insights into how it can be leveraged to promote efficiency, reliability, and sustainability in the energy industry.


Copyright: © 2021 by Smith. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
Cite This Paper
APA Style
Smith, D. (2021). Predictive Analytics in Energy Sector Planning. Management Analytics and Decision, 3(2), 25. doi:10.69610/j.mad.20211130
ACS Style
Smith, D. Predictive Analytics in Energy Sector Planning. Management Analytics and Decision, 2021, 3, 25. doi:10.69610/j.mad.20211130
AMA Style
Smith D. Predictive Analytics in Energy Sector Planning. Management Analytics and Decision; 2021, 3(2):25. doi:10.69610/j.mad.20211130
Chicago/Turabian Style
Smith, Daniel 2021. "Predictive Analytics in Energy Sector Planning" Management Analytics and Decision 3, no.2:25. doi:10.69610/j.mad.20211130

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ACS Style
Smith, D. Predictive Analytics in Energy Sector Planning. Management Analytics and Decision, 2021, 3, 25. doi:10.69610/j.mad.20211130
AMA Style
Smith D. Predictive Analytics in Energy Sector Planning. Management Analytics and Decision; 2021, 3(2):25. doi:10.69610/j.mad.20211130
Chicago/Turabian Style
Smith, Daniel 2021. "Predictive Analytics in Energy Sector Planning" Management Analytics and Decision 3, no.2:25. doi:10.69610/j.mad.20211130
APA style
Smith, D. (2021). Predictive Analytics in Energy Sector Planning. Management Analytics and Decision, 3(2), 25. doi:10.69610/j.mad.20211130

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