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It is often desirable to characterize forecast skills by a scalar value, the so-called loss function.
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Thus major uncertainty still characterizes forecasts concerning climate variation in the Sahel.
This allows us to use observation data from the production wells to characterize and forecast the reservoir response and further use them to control the injection wells to maximize the reservoir production and sweep efficiency (percentage of oil in-place replaced by the injection fluid).
Multi-institutional databases and time-series models may be useful tools to characterize and forecast the burden of severe viral infections at the local and institutional levels [ 9, 10].
Attention is here paid on three factors that characterize the forecasting process: whether structured techniques are adopted, whether information from different sources is collected to elaborate forecasts, and the extent to which forecasting is used to support decision-making processes.
The 1-hour-ahead persistence wind power forecasting method is used to characterize the forecastability of a potential wind power plant, thereby partially quantifying the integration cost.
Several indices have been defined, based on combinations of precipitation, temperature, soil moisture, and evapotranspiration, to characterize, assess, and forecast droughts.
During years that forecasts accurately characterize the probability distribution of monsoon outcomes the market signal encourages economically efficient use of the resource.
Pressure transient behavior is among the most important information for characterizing a reservoir, forecasting its future performance, and designing an appropriate recovery scheme.
Although abundant investigations concerning wind speed forecasting have been conducted by numerous researchers, most of the studies merely attach importance to point forecasts, which cannot quantitatively characterize the uncertainties as developing intervals.
This chapter applies the methods presented in to characterize and classify the reservoir prior to forecasting.
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