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An Overview on Stochastic Global Optimization and its Multi-Domain Applications
Abstract
Optimization is of great interest and it has widespread applications in engineering and science. It has become a major technology contributor to the growth of industry. It is extensively used in solving a wide variety of problems in design, operation, and analysis of engineering and technological processes. Optimization of large-scale problems pose difficulties concerning to dimensionality, differentiability, multimodality and nonlinearity in objective functions and constraints. In order to overcome such difficulties, there has been a rapidly growing interest in advanced optimization algorithms. Stochastic and evolutionary optimization algorithms are increasingly used to solve challenging optimization problems. These algorithms include genetic algorithm, simulated annealing, differential evolution, ant colony optimization, tabu search, particle swarm optimization, artificial bee colony algorithm, and cuckoo search algorithm. These algorithms are typically inspired by some phenomena from nature and they are robust. These algorithms do not require any gradient information and are even suitable to solve discrete optimization problems. These methods are extensively used to solve the optimization problems concerning to systems that are highly nonlinear, high dimensional, and noisy or for solving problems that are not easily solved by classical deterministic methods of optimization.
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