In Demand Response programs, utilities use rate increases, bill credits, or other incentives to control demand on the electric grid during periods when electricity demand is threatened to outpace the electricity supply.

Demand Response programs often include rewards or penalties to encourage customer behavior change.

Utilities are helping customers, using these programs, to adjust their energy consumption during Demand Response events through the use of new control systems. Such systems use forecasts to predict energy production and consumption, and accordingly optimize them, minimizing costs.

The use of good prediction models, that provide quality forecasts used for predicting uncertain renewable energy…


Problem

Insurance companies are extremely interested in the prediction of the future. Accurate prediction gives a chance to reduce the financial loss for the company. A major cause of increased costs is payment errors made by the insurance companies while processing claims. Furthermore, processing the claims against the accounts for a significant portion of administrative costs because of the payment errors.

Many other sectors have long recognized the potential in self-learning software and cognitive systems. …


Convolutional Neural Networks are deep neural networks that are primarily used for computer vision. CNNs are a specific architecture of Neural Networks that are incredibly effective at dealing with image data. If we train the CNN model with a dog’s image, it identifies dog characteristics such as its color, tail, and legs. Using these features, the model can differentiate between a dog and any other animal.

Artificial Neural Networks can also be used for image recognition, but there are certain issues using ANN models for image data. If we use ANNs for fully connected networks for image data, we will…


Problem

Accurate retail sales demand forecasting is critical for optimal resource allocation, budget planning, and other related retail tasks during the year. This problem is challenging because sales prediction depends on numerous external factors, including weather, city population, unemployment, growth, or marketing changes.

One challenge of modeling retail data is the need to make decisions based on limited history. Holidays and select major events come once a year, and so does the chance to see how strategic decisions impacted the bottom line. In addition, markdowns are known to affect sales.

State-of-the-art methods for handling these tasks often rely on a combination…


Our brain is made up of billions of nerve cells, called neurons. Arranged in a network, neurons communicate with each other in a sequence-like manner: Once one neuron receives information, it passes it to another neuron, which passes it to another and so on. Neurons can even signal several neighboring neurons at once. For example, one neuron might transmit information about the location of a baseball pitch that’s flying toward you while other neurons alert your muscles to get ready to swing the bat.This interconnected system allows us to constantly accumulate new information as the more familiar we become with…


Imagine you have prepared for an exam or competition, but in spite of your efforts you do not get the results you want. If you choose to try again, you will likely revise your preparation tactics based on your first experience. In other words, you will fine tune yourself and your techniques to achieve a better result. A Similar approach is used to improve the scores of machine learning models, and in this article, 7 particular methods of improvement will be discussed.

1. Adding more data

Assuming that it is relevant and accurate, there can never be too much data…


In our day to day life we face many tasks whether they are expected or unforeseen. Unsurprisingly, when we face unforeseen challenges we are more prone to struggles and failure, but when it comes to tasks we were ready for, usually we are well more equipped to complete them with flying colors. Although familiar tasks are easier for us to complete, as we continue to see unfamiliar tasks more and more, we will our struggles to complete will decrease over time.

In other words, we are conditioned to learn from our experiences. Since childhood, we have learned to walk, talk…


Picture yourself back in school, bracing for exams in a couple of weeks. How will you prepare for your exams? Some strategies you may utilize include reading text books or class notes, scavenging Google for resources, or watching videos. Ultimately each person prefers their own method of learning, and if one method does not work, you will try another one until you find one that best suits you.

Most of the time results are how we gage the efficacy of each method- we continue study techniques that yield higher exam scores and abandon techniques that do not translate well to…


In a world that runs on machines, algorithms are all around you. Whether you are reading this article, watching some video, or browsing the web, it is because an algorithm brought it to you. When you open any social media platform, algorithms decide what you see. When you search for a photo, algorithms simplify the process of finding it. When you buy something from E-commerce websites, algorithms help adjust future prices for companies while also checking your bank account information to safeguard against fraudulent transactions.

While you may be aware that algorithms are everywhere, knowing is only scratching the surface…


Harnessing the capabilities of artificial intelligence, machine learning, deep learning, and data science will be instrumental in the future; however, the average person likely only has a surface level understanding of how these four terms are related. Therefore, the purpose of this article is to clarify each of these terms utilizing Venn Diagrams. We will begin with artificial intelligence, which can be thought of as human intelligence exhibited by a machine.

Humans can only perform specific tasks after learning them, and we improve our execution of these tasks through practice. Artificial intelligence works the same way and we refer to…

Lotus Labs

Transform your business into an AI-driven enterprise. We specialize in Machine learning for Retail, Insurance, and Healthcare industries. www.lotuslabs.ai

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