Why do I need the Energiewerks Ensights Toolkit ?
Analysts spend a significant portion of their work day compiling data from various sources.
The data then needs to be cleaned for analysis purposes. The raw data may need transformation or may have to be blended with other data sets to make them useful. The resultant blended data may need to be stored efficiently so as to capture semantic and multi-dimensional relationships.
In a typical analytics setup, most of the above tasks are done manually. Once a study or report is required on a recurring basis, this effort of compiling data soon consumes increasing amounts of time for an analyst. The analyst then spends more time on the mundane repetitive tasks than on real value adding analysis.
Most analysts indicate that they can be much more effective identifying new opportunities if they spend more time on analysis and less on preparation.
The Energiewerks Ensights Toolkit autonomously orchestrates tasks for data acquisition, preparation, storage, analysis, visualization, and dissemination. Set it and forget it.
This allows the analyst to focus on real analysis and less on the mundane data compilation and cleansing process.
What does the Energiewerks Ensights Toolkit do in general?
Energiewerks Ensights is a toolkit used for streamlining the analytics process. It comprises tools focused on data, analytics technology, infrastructure and process.
The analytics process is broken up into data preparation, analysis, visualization, dissemination and orchestration phases.
Data preparation – Energiewerks Ensights is used for aggregating, preparing and storing data acquired from public ( like EIA ), proprietary and private ( positions from ETRM system at client company ). These tools assemble information and store it to be used in the analysis phase.
Analysis – Prototyping can be done in Excel. That model is then converted to a program using the Energiewerks Ensights toolkit so that it can be run on the Energiewerks Ensights server infrastructure.
Visualization – The Energiewerks Ensights toolkit then visualizes results of the analysis, derived data or the source data so that large datasets can be concisely presented and a story told. These can be in the form of charts, narratives and tables
Dissemination – Aggregations of charts, narratives and tables are combined together to tell a story. This can be in form of an analytics blog, periodic report, event generator, twitter feed, pdf file, email, interactive analytical applications delivered as per trader/analyst need.
What is “Analytics as a process”?
Energiewerks Ensights is a toolkit of loosely coupled and highly cohesive tools. The design principle dictates that the analytics process is broken down into elemental atomic tasks. Each task translates to a standalone script that accomplishes one aspect of the process only. Each task has an input and an output.
The tasks are orchestrated using a scheduler or an event as a trigger or a sequential group of logically related tasks.
Every task in an analytical solution can be broken down into one or more categories of tasks as detailed below
- Acquire : Acquire data from public, proprietary or internal system.
- Prepare : Convert the data into a format that can be standardized and analyzed.
- Store : Store the data with as much structural and semantic relationships intact
- Analyze : Statistical, mathematical and numerical analysis of the underlying data using models
- Visualize : Visualize the raw data or outputs using visual tools in a simple and concise manner, to convey as much information about large datasets quickly to the observer
- Disseminate : Disseminate the data via the internet, blogs, email, web services, content servers, social tools, mobile phones depending on the use case
- Operationalize : Run each of the categories of tasks in an automated manner to generate the analytics artifacts with as little human intervention as possible
Energiewerks Ensights toolkit is designed with several utility classes, patterns and idioms that focus on exactly one category of tasks.The tools allow the analyst to break down the use case into individual smaller tasks and deliver software artifacts in a highly responsive and agile manner.
Where does Energiewerks Ensights Toolkit fit on a trading desk ?
Energiewerks Ensights is used for autonomous generation of recurring quantitative studies and reports. A typical study evolves through the following process:
A typical study and recurring report incrementally and iteratively evolves through the following process:
– Prototype a model in Microsoft Excel and run it for a period of time on a user desktop
– Migrate, automate and scale the execution of the model using Energiewerks Ensights toolkit and server infrastructure deployed on a public or private cloud.
– Build Systematic and compliant enterprise system, if the business case justifies the capital expenditure and compliance requires it.
Energiewerks Ensights combines the agility and speed provided by Microsoft’s Excel based analytics, yet the server end automation, robustness, application scaling and resiliency of enterprise applications such as ETRM systems.
A typical scenario where Energiewerks Ensights is used in an Excel sheet developed by a trader or analyst that has outgrown the capabilities of the Excel calculation engine, yet the business case is not large enough for the IT department to justify the capital expenditure spend for an enterprise system.
If the trading desk is entering into a new market. Energiewerks Ensights is positioned and has been used as a stepping stone from MS Excel based analytics as a transition platform to an enterprise system once capital expenditure is approved and the system is put into production.
Specific use cases where Energiewerks Ensights has been used in this way :
Risk reporting on exotics such as Quantos or SwapOptions – the investment bank developed Excel based reporting, then scaled it up to cover a large portfolio using Energiewerks Ensights as the ETRM system did not support those exotic derivatives.
What functional areas across the lifecycle of a trade has Energiewerks Ensights been used for?
Energiewerks Ensights has been used in small to medium projects in the following functional areas :
– fundamental analysis – Natural Gas S&D
– technical analysis – Mean Reversion, Cointegration / Paired Trading
– Derivative pricing – European / American / Calendar Spread Options
– Blotter / Straight through processing
– Real-time nonlinear position manager
– End of day Natural Gas Profit & Loss Physical, Financial and nonlinear portfolio
– Power Settlements
– Storage Model / Optimization
– Transport Model / Optimization
– Treasury Cash forecasting and allocation
– Financial reporting
– Data migration
– Mergers & Acquisitions systems integration
Have commodities trading desks used Energiewerks Ensights for small projects?
Energiewerks Ensights has been used by financial and physical traders on natural gas, ftrs, power, ngls , crude oil, commodity indices, structured notes, exotics, emissions, RECs and ngls desks.
Go to the Energiewerks Projects page for a listing of projects that Energiewerks Ensights has been used for internally at Energiewerks, Easton Research and several client firms.