In this paper we present a space-time isogeometric analysis scheme for the discretization of parabolic evolution equations with diffusion coefficients depending on both time and space variables. The problem is considered in a space-time cylinder in Rd+1, with d = 2, and is discretized using higher-order and highly-smooth spline spaces. This makes the matrix formation task very challenging from a computational point of view. We overcome this problem by introducing a low-rank decoupling of the operator into space and time components. Numerical experiments demonstrate the efficiency of this approach.
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