Forecasting Benchmark 2pg

Energy and RevenueForecast BenchmarkObjectives, Findings, and Conclusions• Governance & Integration –The overall goal of In 2003 Capgemini, in collaboration with The control ofExelon, conducted a benchmark of the policies, organization, and processes ofthe Energy andintermediate (month-ahead & annual) energy the forecasting function and its integrationRevenue Forecastingand revenue forecasting in the US. into the businessBenchmark was to Environment – The external conditionsdevelop an under- To accomplish the benchmark, ten utility impacting the forecast assumptions, data,standing of how various companies were surveyed to understand how and methodsfactors affect the ability four specific areas affect their ability to Uncertainty – Understanding the effect ofto accurately forecast accurately forecast intermediate energy and uncertainty on forecast precision and accuracyrevenue in the current business environment. in the current DDaattaa aanndd MMooddeellss –– The current state of databusiness environment. and models used by the industry forThe survey components included in the intermediate-term forecasting and gapsbenchmark were:versus best practice.Small sustainedFORECAST AREA IMPROVED FORECAST VALUE DRIVERimprovements to theintermediate Minimizing the need for additional supply or(month-ahead & Demand Forecasts generation capacityannual) forecast can Delaying the timing of capital projectscreate millions of dollars of value for ...