aylaebinc / modelling-electricity-demand-using-sarima-and-holt-winters Goto Github PK
View Code? Open in Web Editor NEWThis project forked from rahijj/modelling-electricity-demand-using-sarima-and-holt-winters
Electricity demand prediction in today's world plays a very crucial role as it helps plan load allocations and also helps in making decision beforehand regarding the upgradation of the infrastructure for the generation and transmission of electricity. Moreover, forecasting electricty’s demand greatly helps cut down costs as well, because it helps with better planning and decision making. Generally energy consumption time series predictions are difficult to model because of the presence of complex linear and non-linear patterns. In this project we will be using the Autoregressive Integrated Moving Average (ARIMA), seasonal ARIMA (SARIMA) and Holt-Winters method to forecast the future demand of electricity in Toronto.