Korea Power Exchange makes faster decisions with SAS® Business Analytics
The nonprofit Korea Power Exchange ensures the fair and transparent management of the country’s power market. With SAS Business Analytics, consolidated data allows staff members to create reports in a fraction of the time it once took. The result: The Exchange can do its job to keep electricity prices low and transmission standards high.
Reports that once took two weeks to produce now take two hours. “The biggest change is users can see the data on their own computer. With the previous system, it was pretty hard to do that. You had to go to individual consoles or request the data from the computing manager. But now, users can get a large amount of data easily and conveniently," Choi says. The organization must provide monthly and quarterly statistical information to a government authority – and the type of information requested changes slightly each time. While it was taking two to three weeks to prepare this information, it now takes a few days.
The analytics capability is particularly critical. The exchange was previously limited to the statistical functions available in Excel. It can now use functions like time series forecasting in SAS to create more reliable forecasts for electricity demand. Before introducing SAS, statistical data on electricity was produced using the statistical functions available in Excel. Since SAS was adopted, it has been possible to leverage various statistical functions and time series forecast data provided by SAS, which has enhanced the reliability of the electricity demand forecast.
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Korea Power Exchange
It took too much time to create daily, monthly, quarterly and yearly reports and it was too difficult to analyze data that was housed in separate systems
SAS Business Analytics
Reports that once took two weeks to produce now take two hours. Analysts can spend more time helping Korea maintain a cost-effective power market
“Before SAS, users had to access data from separate systems to find information they wanted. But now, we can freely share the information in a single infrastructure.”
Manager, IT Software Management Team