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   Scheduling Flexible Demand in Cloud Computing Spot Markets; ; et al in Business and Information Systems Engineering (2020), 62(1), 25--39 The rapid standardization and specialization of cloud computing services have led to the development of cloud spot markets on which cloud service providers and customers can trade in near real-time ... [more ▼] The rapid standardization and specialization of cloud computing services have led to the development of cloud spot markets on which cloud service providers and customers can trade in near real-time. Frequent changes in demand and supply give rise to spot prices that vary throughout the day. Cloud customers often have temporal flexibility to execute their jobs before a specific deadline. In this paper, the authors apply real options analysis (ROA), which is an established valuation method designed to capture the flexibility of action under uncertainty. They adapt and compare multiple discrete-time approaches that enable cloud customers to quantify and exploit the monetary value of their short-term temporal flexibility. The paper contributes to the field by guaranteeing cloud job execution of variable-time requests in a single cloud spot market, whereas existing multi-market strategies may not fulfill requests when outbid. In a broad simulation of scenarios for the use of Amazon EC2 spot instances, the developed approaches exploit the existing savings potential up to 40 percent – a considerable extent. Moreover, the results demonstrate that ROA, which explicitly considers time-of-day-specific spot price patterns, outperforms traditional option pricing models and expectation optimization. [less ▲] Detailed reference viewed: 32 (1 UL) Demand response through automated air conditioning in commercial buildings—a data-driven approach; Fridgen, Gilbert  ; in Business Research (2020), 13(3), 1491--1525 Building operation faces great challenges in electricity cost control as prices on electricity markets become increasingly volatile. Simultaneously, building operators could nowadays be empowered with ... [more ▼] Building operation faces great challenges in electricity cost control as prices on electricity markets become increasingly volatile. Simultaneously, building operators could nowadays be empowered with information and communication technology that dynamically integrates relevant information sources, predicts future electricity prices and demand, and uses smart control to enable electricity cost savings. In particular, data-driven decision support systems would allow the utilization of temporal flexibilities in electricity consumption by shifting load to times of lower electricity prices. To contribute to this development, we propose a simple, general, and forward-looking demand response (DR) approach that can be part of future data-driven decision support systems in the domain of building electricity management. For the special use case of building air conditioning systems, our DR approach decides in periodic increments whether to exercise air conditioning in regard to future electricity prices and demand. The decision is made based on an ex-ante estimation by comparing the total expected electricity costs for all possible activation periods. For the prediction of future electricity prices, we draw on existing work and refine a prediction method for our purpose. To determine future electricity demand, we analyze historical data and derive data-driven dependencies. We embed the DR approach into a four-step framework and demonstrate its validity, utility and quality within an evaluation using real-world data from two public buildings in the US. Thereby, we address a real-world business case and find significant cost savings potential when using our DR approach. [less ▲] Detailed reference viewed: 40 (0 UL)Providing Utility to Utilities : the Value of Information Systems Enabled Flexibility in Electricity ConsumptionFridgen, Gilbert ; ; et alin Journal of the Association for Information Systems (2016), 17(8), 537--563 Detailed reference viewed: 23 (2 UL)The Value of IS-Enabled Flexibility in Electricity Demand : A Real Options ApproachFridgen, Gilbert ; ; et alin 12th International Conference on Wirtschaftsinformatik (WI) (2015) Detailed reference viewed: 16 (1 UL)Toward Real Options Analysis of IS-Enabled Flexibility in Electricity DemandFridgen, Gilbert ; ; et alin 35th International Conference on Information Systems (ICIS) (2014) Detailed reference viewed: 17 (2 UL) |
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