• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.9
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• pp.1581-1586
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• 2010

Korea Power Exchange has successfully performed the Long-term Electricity Demand Forecasting. Recently there is a lot of change in electricity industry sector; the national master-plan for green gas emission reducing, rise of smart-grid, and new trend of electricity consumption, and it is becoming painful challenging for demand forecasting. In new circumstance the demand forecasting is required more flexible and more accurate.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.6
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• pp.358-363
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• 2004

Due to the weather sensitivity of the power load, it is difficult to forecast accurately the peak power load of summer season. We improve the accuracy of the load forecasting considering weather condition. We introduced the sensitivity of temperature and proposed an improved forecasting algorithm. The proposed algorithm shows that the error of the load forecasting is 1.5%.

• International Journal of Control, Automation, and Systems
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• v.6 no.5
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• pp.639-650
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• 2008

Electricity price forecasting has become an integral part of power system operation and control. In this paper, a wavelet transform (WT) based neural network (NN) model to forecast price profile in a deregulated electricity market has been presented. The historical price data has been decomposed into wavelet domain constitutive sub series using WT and then combined with the other time domain variables to form the set of input variables for the proposed forecasting model. The behavior of the wavelet domain constitutive series has been studied based on statistical analysis. It has been observed that forecasting accuracy can be improved by the use of WT in a forecasting model. Multi-scale analysis from one to seven levels of decomposition has been performed and the empirical evidence suggests that accuracy improvement is highest at third level of decomposition. Forecasting performance of the proposed model has been compared with (i) a heuristic technique, (ii) a simulation model used by Ontario's Independent Electricity System Operator (IESO), (iii) a Multiple Linear Regression (MLR) model, (iv) NN model, (v) Auto Regressive Integrated Moving Average (ARIMA) model, (vi) Dynamic Regression (DR) model, and (vii) Transfer Function (TF) model. Forecasting results show that the performance of the proposed WT based NN model is satisfactory and it can be used by the participants to respond properly as it predicts price before closing of window for submission of initial bids.

• Korean Journal of Construction Engineering and Management
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• v.4 no.4 s.16
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• pp.114-122
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• 2003

Dynamic and fragmented characteristics are two of the most significant factors that distinguish the construction industry from other industries. Previous forecasting techniques have failed to solve the problems derived from the above characteristics, and do not provide considerable support This paper deals with providing a more precise forecasting by applying Case-based Reasoning (CBR). The newly developed model in this study enables project managers to forecast monthly expenditures with less time and effort by retrieving and referring only projects of a similar nature, while filtering out irrelevant cases included in database. For the purpose of accurate forecasting, the choice of the numbers of referring projects was investigated. It is concluded that selecting similar projects at $5{\~}6{\%}$ out of the whole database will produce a more precise forecasting. The new forecasting model, which suggests the predicted values based on previous projects, is more than just a forecasting methodology; it provides a bridge that enables current data collection techniques to be used within the context of the accumulated information. This will eventually help all the participants in the construction industry to build up the knowledge derived from invaluable experience.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.65 no.9
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• pp.1486-1492
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• 2016

This study presents the electrical load forecasting and error correction method using a real building load pattern, and the way to manage the energy storage system with forecasting results for economical load operation. To make a unique pattern of target load, we performed the Hierarchical clustering that is one of the data mining techniques, defined load pattern(group) and forecasted the demand load according to the clustering result of electrical load through the previous study. In this paper, we propose the new reference demand for improving a predictive accuracy of load demand forecasting. In addition we study an error correction method for response of load events in demand load forecasting, and verify the effects of proposed correction method through EMS scheduling simulation with load forecasting correction.

• Architectural research
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• v.8 no.1
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• pp.77-84
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• 2006

In spite of enormous increase in data generation, its practical usage in the construction sector has not been prevalent enough compared to those of other industries. The author would explore the obstacles against efficient data application in the arena of expenditure forecasting, and suggest a forecasting method by applying Case-based Reasoning (CBR). The newly suggested method in the research, enables project managers to forecast monthly expenditures with less time and effort by retrieving and referring only projects of a similar nature, while filtering out irrelevant cases included in database. Among 99 projects collected, the cost data from 88 projects were processed to establish a new forecasting model. The remaining 10 projects were utilized for the validation of the model. From the comprehensive study, the choice of the numbers of referring projects was investigated in detail. It is concluded that selecting similar projects at 12~19 % out of the whole database will produce a more precise forecasting. The new forecasting model, which suggests the predicted values based on previous projects, is more than just a forecasting methodology; it provides a bridge that enables current data collection techniques to be used within the context of the accumulated information. This will eventually help all the participants in the construction industry to build up the knowledge derived from invaluable experience.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.117-124
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• 2004

Dynamic and fragmented characteristics ale two of the most significant factors that distinguish the construction industry from other industries. Previous forecasting techniques have failed to solve the problems derived from the above characteristics and do not provide considerable support. This paper deals with providing a more precise forecasting by applying Case-based Reasoning (CBR). The newly developed model in this study enables project managers to forecast monthly expenditures with less time and effort by retrieving and referring only projects of a similar nature, while filtering out irrelevant cases included in database. For the purpose of accurate forecasting. the choice of the numbers of referring projects was investigated. it is concluded that selecting similar projects at $5\~6\;\%$ out of the whole database will produce a more precise forecasting. The new forecasting model. which suggests the predicted values based on previous projects, is more than just a forecasting methodology it provides a bridge that enables current data collection techniques to be used within the context of the accumulated information. This will eventually help all the participants in the construction industry to build up the know ledge derived from invaluable experience.

• Journal of Institute of Control, Robotics and Systems
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• v.12 no.7
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• pp.631-636
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• 2006

In this paper, an algorithm of time series function forecasting using GMDH(group method of data handling) algorithm that gives more weight to the recent data is proposed. Traditional methods of GMDH forecasting gives same weights to the old and recent data, but by the point of view that the recent data is more important than the old data to forecast the future, an algorithm that makes the recent data contribute more to training is proposed for more accurate forecasting. The average error rate of electric power demand forecasting by the traditional GMDH algorithm which does not use data weighting algorithm is 0.9862 %, but as the result of applying the data weighting GMDH algorithm proposed in this paper to electric power forecasting demand the average error rate by the algorithm which uses data weighting algorithm and chooses the best data weighting rate is 0.688 %. Accordingly in forecasting the electric power demand by GMDH the proposed method can acquire the reduced error rate of 30.2 % compared to the traditional method.

• Journal of Korea Society of Digital Industry and Information Management
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• v.9 no.2
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• pp.139-149
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• 2013

As the importance of technology forecasting while countries and companies manage the R&D project is growing bigger, the methodology of technology forecasting has been diversified. One of the forecasting method is patent analysis. This research proposes quick forecasting process of emerging technology based on keyword approach using text mining. The forecasting process is following: First, the term-document matrix is extracted from patent documents by using text mining. Second, emerging technology keyword are extracted by analyzing the importance of word from utilizing mean values and standard deviation values of the term and the emerging trend of word discovered from time series information of the term. Next, association between terms is measured by using cosine similarity. finally, the keyword of emerging technology is selected in consequence of the synthesized result and we forecast the emerging technology according to the results. The technology forecasting process described in this paper can be applied to developing computerized technology forecasting system integrated with various results of other patent analysis for decision maker of company and country.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.64 no.8
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• pp.1137-1144
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• 2015

Accurate and robust load forecasting model is very important in power system operation. In case of short-term electric load forecasting, its result is offered as an standard to decide a price of electricity and also can be used shaving peak. For this reason, various models have been developed to improve forecasting accuracy. In order to achieve accurate forecasting result for summer season, this paper proposes a forecasting model using corrected effective temperature based on Heat Index and CDH data as inputs. To do so, we establish polynomial that expressing relationship among CDH, load, temperature. After that, we estimate parameters that is multiplied to each of the terms using PSO algorithm. The forecasting results are compared to Holt-Winters and Artificial Neural Network. Proposing method shows more accurate by 1.018%, 0.269%, 0.132% than comparison groups, respectively.