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
Credits
About the Author
About the Reviewer
eBooks, discount offers, and more
Preface

Summary


In the current chapter, we took our problem solving skills one step ahead by trying to answer the question 'When'. In an attempt to provide John's team with a more powerful and actionable solution, we touched base on the predictive stack of data science. We analyzed the problem and found two different ways to solve the same problem-one being a regression problem (predicting a continuous outcome) and the other being a classification problem (predicting a categorical outcome). We started by solving the problem to predict the output quality parameter for the detergent before being manufactured. We used Linear Regression and also experimented the same problem with CART, that is, Decision trees. You learned about the functioning of the algorithm in detail (keeping the mathematical aspect aside) and experimented with a variety of techniques to improve the accuracy, but didn't achieve favorable results.

We then experimented with the alternative approach, where the same problem was defined...