Why work with the Retail Electricity Market? Blog #1

Describe your internship and what drew you to this opportunity

Hello everyone! My name is Jiaming Shen, and I am a rising junior at the University of Michigan studying Data Science. My internship is assisting my mentor, Dr. Abdollah Kavousifard, and Professor Wencong Su conduct research on the Retail Electricity Market at the University of Michigan Dearborn. My specific task as a student researcher intern is to plan, debug, and implement different economic experimental platforms that can predict business behaviors in the market.  I work with computer applications such as Ztree(a program specialized in constructing economic experiments) and Matlab (program that can solve all kinds of math problems), to code complex economic algorithms into an easy to use interface that subjects can use. Our final goal for the product is to create a viable and optimal economic experimental platform with GUI interfaces that can easily be used by the suppliers and consumers of the real world electricity market.

Now many people might be thinking why a Data Science Major would want to work with all the math and economics of the electricity market. It doesn’t really use my major right? Wrong. As an aspiring data scientist, I recognized the vast application of a data scientist’s skill set in all kinds of real world activities. Working as a student researcher intern at the University of Michigan Dearborn, I got to learn new and creative coding and problem solving skills that can be very useful when working with large databases and difficult optimization problems in the future. In addition, as a student researcher, I get to collect real world data and analyze information to identify tends and correlations which improves my data analysis skills. Finally, I get the experience to work in a team with my mentor and a professor. I get to combine their vast knowledge to help with the creation of the economic platform and improve my collaboration and communication skills in the process. While many other people might not understand the significance of working with the electricity retail market as a data science major, I see it as a opportunity to learn new things and develop different essential skills of a data scientist.

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