Device inventory

Does it help to fill out the device inventory on a home with all the details?

Also, does Sense update the inventory list? I have ceiling fans in every room and the only fans are something labeled Radon Fan.

As far as the inventory directly and immediately helping your installation, NO.
It Helps them on the server side with the massive data collection and probably databases and libraries.
The community name list does get occasional updates and new names. I’ve run into the same problem where it depends where you come from and the names more familiar to you with certain things.
For instance;
The use of Fridge and not Refrigerator
The use of washer instead of Washing machine
Where they have heat and cooling with separate designations and devices is pretty silly. Should be HVAC and then chose device. I have a heat pump which supplies both heat and cooling

If it were my smart system, knowing the published power consumption would give the machine learning knowledge it would be just guessing at.

I guess the developers never actually walked around their own houses naming devices and turning them on or off.

I don’t think the actual power consumption plays as big a role in detection as one would think.
I believe that it’s more of the “on” and “off” signature that devices are recognized by. I’m sure the total consumption does play a part but something like a heat pump can use several hundred watts more or less power depending on the outdoor temperature.
If you notice, Sense doesn’t pick up on something that is on/off during a cycle. If it doesn’t catch the signature then it ends up in other or always on.

Sorry, but as @samwooly1 suggests, most of the decipherable information about what a device is, is buried in the transition waveforms, not the average power consumption number. Most home automation systems are useful for controlling/visualizing on/off/dimmed, but really don’t give much control or power insight into the typical biggest consumers - heaters, HVAC, ovens, dryers, EVs, etc. And most of those don’t have a simple on/off switch to do hand switching exercise you suggest.

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