Dr. Tao Hong funds IIF "Best Energy Paper" Award

Dr. Tao Hong

Dr. Tao Hong

IIF Tao Hong Award

Dr. Tao Hong is a friend, former SAS colleague, former SAS basketball league opponent, a major contributor to SAS Energy Forecasting software, and now Associate Professor at UNC Charlotte. When he isn't raining three-pointers on me on the basketball court, Tao is Director of the Big Data Energy Analytics Laboratory (BigDEAL) and on the Board of the International Institute of Forecasters. And he has now graciously funded a new award for the best International Journal of Forecasting paper on energy forecasting.

And The Winner Is...

Rafel Weron

Dr. Rafal Weron
Wroclaw University, Poland

At last month's International Symposium on Forecasting in Cairns, Australia, I was there to witness the first IIF Tao Hong Award, to Professor Rafal Weron  of Wroclaw University for his paper:

“Electricity price forecasting: A review of the state-of-the-art with a look into the future”, IJF 30(4), 1030-1081

Per Rob Hyndman's award presentation speech:

Weron’s article is encyclopaedic. It covers the entirety of electricity price forecasting and systematizes a wide field of very disparate models, from statistical models across machine learning to agent models. However, the paper is not only a review; it also presents much needed guidelines for the rigorous use of methods, measures and tests, and it looks ahead and speculates on the directions electricity price forecasting will take in the next decade or so. The paper also has applications beyond electricity price forecasting, and is of particular interest to people in electric load forecasting and call centre forecasting.

Tao Hong award presentation

Rob Hyndman and Rafal Weron

To read more about Professor Weron and the award, visit Rob Hyndman’s blog, Hyndsight.

Thanks to Professor Weron for this valuable paper, and to Tao Hong for his generous contribution.

Addendum: Interview with Rafal Weron on the Energy Forecasting Blog

Tao Hong's Energy Forecasting blog has a fresh interview with Professor Weron in the new post Who's Who in Energy Forecasting: Rafal Weron.

About Author

Mike Gilliland

Product Marketing Manager

Michael Gilliland is author of The Business Forecasting Deal (the book), and editor of Business Forecasting: Practical Problems and Solutions. He is a longtime business forecasting practitioner, and currently Product Marketing Manager for SAS Forecasting software. Mike serves on the Board of Directors for the International Institute of Forecasters, and received the 2017 Lifetime Achievement in Business Forecast award from the Institute of Business Forecasting. He initiated The Business Forecasting Deal (the blog) to help expose the seamy underbelly of forecasting practice, and to provide practical solutions to its most vexing problems.

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