Power analysis is a must for soc design. Without power analysis numbers, when your chip comes back, how do you know the currents of different modes are expected? How do you know which supply has higher or lower (then expected) current draw? Neither is not good. It means modules in chip are not in their expected modes, ie, unexpected traffic, clock rate is not right, memory is off, etc.
There are multiple power analysis tools on market. Synopsys PTPX is one of the most popular. This article talks about several things which need special care to get a meaningful or better result out of ptpx.
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