Book Image

Smarter Decisions - The Intersection of Internet of Things and Decision Science

By : Jojo Moolayil
Book Image

Smarter Decisions - The Intersection of Internet of Things and Decision Science

By: Jojo Moolayil

Overview of this book

With an increasing number of devices getting connected to the Internet, massive amounts of data are being generated that can be used for analysis. This book helps you to understand Internet of Things in depth and decision science, and solve business use cases. With IoT, the frequency and impact of the problem is huge. Addressing a problem with such a huge impact requires a very structured approach. The entire journey of addressing the problem by defining it, designing the solution, and executing it using decision science is articulated in this book through engaging and easy-to-understand business use cases. You will get a detailed understanding of IoT, decision science, and the art of solving a business problem in IoT through decision science. By the end of this book, you’ll have an understanding of the complex aspects of decision making in IoT and will be able to take that knowledge with you onto whatever project calls for it
Table of Contents (15 chapters)
Smarter Decisions – The Intersection of Internet of Things and Decision Science
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About the Author
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Preface

Defining the business use case


So far, we have explored what kind of problems arise in a typical IoT scenario and how they can be classified into Connected Operations and Connected Assets. Let's now focus on designing and solving a practical business use case for IoT. We will explore how we can solve problems using the interdisciplinary approach of decision science in IoT.

We'll start with a simple problem in the manufacturing industry. Assume that there is a large multinational consumer goods company, say, Procter & Gamble, who owns a plethora of products. Consider their detergent product, Tide, to study our example. Tide is a detergent powder that comes in liquid form as well, has a variety of scents, different cleanliness levels, and so on. Assume that the company owns a plant in which one production line (the assembly line in which the goods are manufactured end to end) manufactures detergent powder. It manufactures 500 Kgs of detergent powder in a single go. The operations head of...