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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > LAWRENCE LIVERMORE NATIONAL LAB AND CATHOLIC UNIVERSITY OF LOUVAIN CHOOSE FICO OPTIMISATION SOFTWARE FOR LARGE-SCALE RENEWABLE ENERGY RESEARCH WORK
    Top Stories

    LAWRENCE LIVERMORE NATIONAL LAB AND CATHOLIC UNIVERSITY OF LOUVAIN CHOOSE FICO OPTIMISATION SOFTWARE FOR LARGE-SCALE RENEWABLE ENERGY RESEARCH WORK

    LAWRENCE LIVERMORE NATIONAL LAB AND CATHOLIC UNIVERSITY OF LOUVAIN CHOOSE FICO OPTIMISATION SOFTWARE FOR LARGE-SCALE RENEWABLE ENERGY RESEARCH WORK

    Published by Gbaf News

    Posted on March 25, 2014

    Featured image for article about Top Stories

    FICO (NYSE:FICO), a leading predictive analytics and decision management software company, announced that researchers at the Lawrence Livermore National Laboratory (LLNL), will include the FICO® Xpress Optimisation Suite in their work to determine the lowest-cost scheduling of electric power grids. LLNL are collaborating with the Catholic University of Louvain, Belgium, to work on large-scale renewable energy integration.

    “We are researching ways to determine which power generators to operate, and how much power to produce at each generator, to meet demand for a region at the lowest cost,” said Deepak Rajan, an Operations Research expert at LLNL’s Center for Applied Scientific Computing. “Typically, this is solved at many time-scales, from long-term planning all the way down to day-ahead operations planning.”

    “FICO offers the best solution for implementing parallel optimisation algorithms, which I see as a major area of industrial application and academic research,” said Anthony Papavasiliou, an assistant professor in the Center for Operations Research and Econometrics of the Catholic University of Louvain, Belgium. ”This is due to the integrated offering of a math programming language, Mosel, that can handle processor communication for parallel algorithms, and a solver that is one of the most competitive commercial solvers in the market. My interaction with the company has been extremely positive, and they have responded immediately to even the most detailed technical questions.”

    Papavasilou notes that he also uses another optimisation software program, but chose Xpress for this extremely challenging work. “Running some programs in parallel in order to implement decomposition algorithms requires two layers of programming,” he said. “This introduces significant implementation inefficiencies and delays, because the two layers may be implemented in different languages, and it makes the description of a math program a tedious task. Xpress, with its integrated solution to the parallel programming of decomposition algorithms, is a better solution for this kind of problem.”

    “Our work involves solving the ‘stochastic unit commitment problem,’ which attempts to capture the uncertainty in the system, including such weather components as temperature, wind speed, and cloud cover,” said Rajan, who is collaborating with the Catholic University of Louvain on the energy problem. “This problem can be cast as an extremely large-scale mixed integer linear program — to be solved on thousands of CPU cores in parallel — which is well-suited for the FICO software.”

    Lawrence Livermore National Laboratory’s mission is to strengthen the United States’ security through the development and application of world-class science and technology. The Lab primarily performs work for the U.S. Department of Energy’s National Nuclear Security Administration. LLNL also applies its capabilities to such challenges as energy, climate change and boosting the nation’s economic competitiveness.

    FICO® Xpress Optimisation Suite software is a platform for building optimisation solutions that drives business process improvements. The Xpress Optimisation Suite provides easy ways to create deploy and utilize business optimisation solutions based on scalable high-performance algorithms, a flexible modeling environment, and rapid application and reporting capabilities for on-premise and cloud installations.

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