Based on the customers data, metalogic executes the entire forecasting process and delivers the results.
FaaS is the right service for utilities that (a) do not have or desire to maintain human resources with the necessary expertise or (b) for utilities with a customer portfolio that does not justify having its own staff, due to size or (c) wish to relieve their forecasting staff in order for them to focus on other analytical tasks e.g. balancing, trading, hedging, risk mitigation, etc.
FaaS is best suited for local or regional utilities as well as municipal utilities with any mix of domestic, SMB or commercial customers.
Metalogic is responsible for executing the entire forecasting operation, i.e., metalogic creates and manages the forecasting process aimed at achieving the best possible results. It also procures the weather and calendar data required. The FaaS client merely provides its most current data (measured values) for forecast purposes.
FaaS utilizes mP Cloud, metalogic’s forecasting software especially developed for operation in the cloud. According to the customer’s requirements, metalogic sets up all necessary resources in Azure, the Microsoft Cloud. This also includes the configuration and modelling of forecasting projects to achieve the best possible forecast results. The customer receives forecast results once or several times a day, as desired, on a per meter basis or aggregated by region, customer type or by the entire portfolio, etc. The customer does receive access to the application mP Cloud, but it does get access to a comprehensive dashboard, where all relevant information and KPIs on the delivered forecasts, as well as the consumption behavior over certain periods of time, are displayed graphically and numerically. With this, the FaaS clients always has an overview of the forecast performance and consumption behavior of their portfolio.
Before setting up the FaaS instance, all customer details are documented and the processes of the FaaS services are defined in an on-boarding process. As required, the scope and parameters can also be flexibly extended or modified. FaaS offers the client an excellent price-performance ratio that is always comprehensible. Billing takes place quarterly based on agreed rates. Thus, the costs for the forecast operation can be planned and is fully transparent.
Unlike SaaS, where the customer uses mP Cloud for their forecasts themselves, the FaaS customer hands over the forecasts to metalogic to perform independently and provide the forecast results daily. This leads less work for the FaaS customer, and provides e.g., operational, organizational as well as cost advantages.
The initial pre-testing of FaaS is based on the data of the FaaS prospect, with the aim of determining the quality of the forecast results and the stability and reliability of FaaS operation.
If the assessment of the FaaS test results is positive, then the transition from the test to a productive operation is not far away. If the data supply has been set up in the framework of the test operation, then from a technical point of view, the productive operation can begin.
The cost of FaaS is low compared to the organizational cost and effort of manning and running one’s own forecasting operation. FaaS is invoiced on a lump sum basis with no hidden costs.
If the customer data is provided to metalogic according to schedule, the forecast results will also deliver on time. And even if the customer data arrives late, metalogic will quickly turn around results based on the latest data. Any discrepancies in customer data detected are also reported quickly. Metalogic is very reliable!