At the first glance, Energy, Finance, and Logistics seem to have little in common. However, in all three fields, predictions and decisions are made based on numerically expensive, complex models relying on large numbers of input parameters. In many cases these models have similar mathematical structures, e.g., graphs, decision trees, state machines, and differential equations. Application of these models to real life problems invariably involves optimization algorithms.
The Josef-Ressel Center for Applied Scientific Computing in Energy, Finance, and Logistics is a 5 year research project hosted by the Vorarlberg University of Applied Science jointly funded by Industry and the Austrian Federal Ministry of Science, Research, and Economy via the Christian Doppler Forschungsgesellschaft
There are two central goals within our Josef-Ressel Center:
- To scale up existing academic laboratory solutions (which are flexible and diverse) to large, powerful and secure IT environments, and
- To allow “production software” used in industry access to libraries for alternative computational procedures
In our Josef Ressel Center a group of scientists and engineers with longstanding experience in different areas of scientific computing and experts in energy, finance, and logistics jointly work on making algorithms and software frameworks available to diverse application fields. A central group within the center concentrates on developing the distributed execution framework (DEF) and the optimization and modeling libraries. Three application groups develop modeling libraries for the fields of energy, finance, and logistics.