Mathematical Modelling and Forecasting

Mathematical modelling is often a necessary stage in identifying the optimum solution to an engineering problem, but it is essential that such modelling is accurate and faithfully represents the practical situation. Failure to specify an accurate model may produce misleading results and conclusions. Modelling simplifications must therefore be assessed carefully to ensure that the validity of results is not compromised.

Our breadth and depth of experience, gained in both mathematical and reliability modelling, enables us to provide creative solutions and a service of the highest standard to meet your needs.

Example: Electricity Demand Forecasting

Client: British Energy

We were employed by British Energy, the UK’s largest electricity supplier, to identify opportunities for developing new methods to improve the forecasting of the electricity demand profiles of their commercial and industrial customers.

In addition, by the applying the method of Dynamic Programming, we successfully developed a method of minimising trading costs that are incurred when forecasts are improved and adjusted as the trading day approaches.