Estimate uncertain demand for electricity and other forms of power. Optimize maintenance schedules and asset lifecycles given uncertain demand. While the energy sector is under considerable pressure to transition to renewable energy sources, the reliability and over-commitment of sources remain in question. With Lumivero software solutions, energy firms can apply data to simulate different scenarios, so they can understand the risks they face in making this transition, and thus make better decisions about how to strike the balance.

Assess the likelihood of prospective sites containing oil, natural gas, or other minerals. Probabilistically estimate reserves and production decline to make wise drilling decisions. Forecast load on power grids. Political and regulatory pressures have added to the cost of extracting oil, coal, and natural gas for refining and delivery to markets, and energy companies must carefully consider whether market demand can deliver a return on these investments in such an environment. Lumivero software solutions can show decision-makers the likelihood of going over budget based on analysis of data and guide them to the best course of action when deciding how to proceed.

Mitigate exposure to commodity price volatility through an optimized options and futures strategy that accounts for uncertainty. Assess infrastructure projects given uncertain future demand and costs. Optimize allocation of limited funds across a portfolio of capital projects. Decision-makers can then apply products from Lumivero’s software solutions to determine the best path forward in recognition of the insight that comes from the data.