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Topic Review
Elderly Consumers
For elderly consumers, the age-related changes drive their specific choices of products and services, which tend to be different from younger adults, and, therefore, have major significance in consumer behavior and marketing.
  • 1.3K
  • 16 Apr 2021
Topic Review
Electricity Demand Forecasting
With the globally increasing electricity demand, its related uncertainties are on the rise as well. Therefore, a deeper insight into load forecasting techniques for projecting future electricity demands becomes imperative for business entities and policymakers. The electricity demand is governed by a set of different variables or “electricity demand determinants”. These demand determinants depend on forecasting horizons (long term, medium term, and short term), the load aggregation level, climate, and socio-economic activities. In this paper, a review of different electricity demand forecasting methodologies is provided in the context of a group of low and middle-income countries. The article presents a comprehensive literature review by tabulating the di fferent demand determinants used in di fferent countries and forecasting the trends and techniques used in these countries. A comparative review of these forecasting methodologies over di fferent time horizons reveal that the time series modeling approach has been extensively used while forecasting for long and medium terms. For short term forecasts, artificial intelligence-based techniques remain prevalent in the literature. Furthermore, a comparative analysis of the demand determinants in these countries indicates frequent use of determinants like the population, GDP, weather, and load data over di fferent time horizons.
  • 1.6K
  • 05 Aug 2020
Topic Review
Electricity Price and Quantity Uncertainty
Electricity is usually traded in a short-term market (spot market) and a long-term market via contracts for future delivery (forward contracts). The electricity market is characterized by being highly volatile when compared to other commodity markets. This high volatility in terms of price and quantity is due to market circumstances (e.g., expectations or strategies of each company and economic dynamics) and physical conditions (e.g., climate, water availability, fuel production, or damage to the power transmission network).
  • 585
  • 18 Jun 2021
Topic Review
Electricity Usage Settlement System Based on Cryptocurrency Instrument
The development of digital techniques, including blockchain-based mechanisms, has meant that an increased interest in blockchain-based solutions is to be expected. Blockchain and similar approaches are characterised by decentralisation, so they are concurrent with the trends of the transforming power sector. Decentralised energy generation based on a high proportion of prosumer installations requires the implementation of a new settlement system for grid activities related to electricity use. The first projects of such systems based on a dedicated cryptocurrency have emerged. Based on these, the general concept of such a system with its own cryptocurrency called CCE is presented, including variants implementing net-metering and net-billing.
  • 326
  • 09 Jun 2023
Topic Review
Electrification of Hydrocarbon Production Facilities in Underdeveloped Areas
The relevance of the technical and economic evaluation of options for the optimization of electrification projects of hydrocarbon production facilities is due to the growing need for the development of new fields in undeveloped and hard-to-reach territories. Development of new fields requires the construction of large amounts of infrastructure energy facilities, new solutions to improve energy efficiency, reducing capital intensity of projects, solutions to improve the efficiency of resource use in the circular economy, and the use of renewable energy sources (RES). Analysis of the technological directions of electrification of hydrocarbon production facilities proves that the low level of application of RES for energy supply purposes is due to the lack of experimental data on the implementation of this kind of project. 
  • 288
  • 06 Jul 2023
Topic Review
Electronic Data Interchange
Electronic data interchange (EDI) is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements. EDI has existed at least since the early 70s, and there are many EDI standards (including X12, EDIFACT, ODETTE, etc.), some of which address the needs of specific industries or regions. It also refers specifically to a family of standards. In 1996, the National Institute of Standards and Technology defined electronic data interchange as "the computer-to-computer interchange of strictly formatted messages that represent documents other than monetary instruments. EDI implies a sequence of messages between two parties, either of whom may serve as originator or recipient. The formatted data representing the documents may be transmitted from originator to recipient via telecommunications or physically transported on electronic storage media." It distinguished mere electronic communication or data exchange, specifying that "in EDI, the usual processing of received messages is by computer only. Human intervention in the processing of a received message is typically intended only for error conditions, for quality review, and for special situations. For example, the transmission of binary or textual data is not EDI as defined here unless the data are treated as one or more data elements of an EDI message and are not normally intended for human interpretation as part of on-line data processing." In short, EDI can be defined as the transfer of structured data, by agreed message standards, from one computer system to another without human intervention.
  • 572
  • 28 Sep 2022
Topic Review
Electronic Ticket
An electronic ticket (commonly abbreviated as e-ticket) is the digital ticket equivalent of a paper ticket. The term is most commonly associated with airline issued tickets. Electronic ticketing for urban or rail public transport is usually referred to as travel card or transit pass. It is also used in ticketing in the entertainment industry. An electronic ticket system is a more efficient method of ticket entry, processing and marketing for companies in the airline, railways and other transport and entertainment industries.
  • 656
  • 20 Oct 2022
Topic Review
Electronic Trading
Electronic or scripless trading, sometimes called e-trading or paperless trading is a method of trading securities (such as stocks, and bonds), foreign exchange or financial derivatives electronically. Information technology is used to bring together buyers and sellers through an electronic trading platform and network to create virtual market places. They can include various exchange-based systems, such as NASDAQ, NYSE Arca and Globex, as well as other types of trading platforms, such as electronic communication networks (ECNs), alternative trading systems, crossing networks and "dark pools". Electronic trading is rapidly replacing human trading in global securities markets. Electronic trading is in contrast to older floor trading and phone trading and has a number of advantages, but glitches and cancelled trades do still occur.
  • 3.5K
  • 14 Oct 2022
Topic Review
Emerging Technologies
According to G. Veletsianos, from a general point of view, an emerging technology is “a new tool with promising potential”. However, an emerging technology is generally defined according to the field in which it is analyzed. B.R. Martin describes an emerging technology as a technology the use of which will benefit many sectors of the economy and/or society. Other important characteristics of emerging technology, according to D. Rotolo, D. Hicks and B. R. Martin, include radical novelty, relatively fast growth, coherence, and prominent impact. Which refers to the crucial following contexts: aspect of future time, anticipation, uncertainty and Industry 4.0. the following definition of an emerging technology has been created by the author – „Emerging technology in Industry 4.0 is a technology the development of which, from today’s point of view, is uncertain and not obvious, but through complex anticipatory research, it is possible to identify its potential radical impact in selected areas, e.g., social, technological, economic, scientific.”
  • 8.1K
  • 10 Dec 2021
Topic Review
Emirate of Ras Al Khaimah
Ras Al Khaimah (RAK) (Arabic: رَأْس ٱلْخَيْمَة; IPA: [raʔs lˈxajma]), also spelled as Ras al Khaimah or Ras al-Khaimah, is one of the seven emirates that make up the United Arab Emirates (UAE). The city of Ras Al Khaimah, sometimes simply abbreviated to RAK City, is the capital of the emirate and home to most of the emirate's residents. It is linked to the medieval trading port of Julfar.[lower-alpha 1] Its name in English means "top of the tent". The emirate borders Oman's exclave of Musandam, and occupies part of the same peninsula. It covers an area of 2,486 km2 (960 sq mi) and has 64 km (40 mi) of beach coastline. As of 2015, the emirate had a population of about 345,000, of which about 31% were Emirati citizens. RAK city has two main areas - the Old Town and Nakheel - on either side of a creek that is home to mangroves and is framed by the North-Western Hajar Mountains. The emirate also consists of several villages and new gated residential developments, such as Al Hamra Village and Mina Al Arab. The emirate is served by Ras Al Khaimah International Airport. Its geography consists of a northern part (where Ras Al Khaimah City and most towns are situated) and a large southerly inland exclave (near the Dubai exclave of Hatta), and a few small islands in the Persian Gulf. Ras Al Khaimah has the most fertile soil in the country, due to a larger share of rainfall and underground water streams from the Hajar.
  • 2.3K
  • 10 Oct 2022
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