Monday, February 22, 2016

Hong Analytics New Course: Fundamentals of Utility Analytics

Five or six years ago, I had the idea of developing an analytics course for the professionals in the utility industry. I ran the idea through Jim Burke. The first response he gave me was
What's analytics?
After I explained the meaning of analytics, Jim recommended me preparing something more conventional, such as statistics and/or operations research for the utility professionals. Since then, the course outline for that utility analytics course has been quietly sitting on my hard drive.

Nowadays, despite the fact that analytics is being well-known to the utility industry (see my recent post on Analytics, Smart Grid and Big Data: Are They Like Teenage Sex?), there is still that gap between analytics education and business needs. In other words, it is really difficulty to find instructors with the knowledge base in both analytics and power systems. Although there are utility analytics conferences and meetings where speakers talk about case studies or visions at conceptual level, few people are offering courses in utility analytics to teach people how to make the techniques work in the real-world applications.

In 2013, I went back to the university to try to fill this gap in the academic environment (see Why I Left a Great Place to Work - from Industry to Academia). Understanding that many industry professionals do not have the bandwidth to go through out graduate program, I decided to develop and offer a series of short courses through Hong Analytics.

So here comes another new Hong Analytics course, to be offered for the first time through EUCI in Boston, MA, March 14-15, 2016.

Fundamentals of Utility Analytics: Techniques, Applications and Case Studies

Analytics — the scientific process of transforming data into insight for making better decisions — is now a must-have skill for almost all utility professionals: from planning, to operations, to trading, to mid-level management, to the C-suite, and everywhere in between. During the recent decade this knowledge requirement has emerged and accelerated in the utility industry. The deployment of various sensors and meters has brought a large amount of data to the industry.  Increased computing power has made quantitative analytics plausible, timely and economically feasible.  Meanwhile, the advancement of information technologies has enabled utilities to make real-time operational decisions that are fact-based and data-driven. A challenge, though, has been to compile a coherent approach for professionals having different skill sets within the utility to leveraging the multiple applications of analytics to achieve better key performance indicator.

This course provides an introduction to analytics in the context of the electric power systems and industry. The course is designed for engineers, planners, analysts and managers who are either new to the utility industry or looking to develop a better understanding of how to use analytics across the entire organization. Through a number of diverse case studies and hands-on exercises, the attendees will gain a fundamental understanding of how to apply analytics within the utility industry, the classical and emerging problems, and how to tackle those problems using the quantitative techniques in the enterprise environment.

For more information, such as course outline and registration link, please visit the course page HERE

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