Capterra Glossary
Load Forecasting
Load forecasting is a type of measurement that is deployed by a utility, such as a water authority or electricity company. It is used to estimate the "load," or demand, for that particular utility. Accurate load forecasting can ensure that a utility has appropriate resources to meet the necessary demand. This, in turn, can impact energy consumption and staffing needs.
What Small and Midsize Businesses Need to Know About Load Forecasting
Small businesses involved in load forecasting usually have some sort of connection to the utility industry. This means that they may be directly involved in working with utilities, or they may be involved in creating and servicing the software that these utilities use.
Related Terms
- Enterprise Resource Planning (ERP)
- Procurement
- Total Cost of Ownership (TCO)
- Vendor
- Supply Chain Planning (SCP)
- Telematics
- Senpai
- Vendor Management
- Value-Added Reseller (VAR)
- Bill of Materials (BOM)
- Supply Chain
- Smart Factory
- Scanner
- SCADA (Supervisory Control and Data Acquisition)
- Radio-frequency Identification (RFID)