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 this chapter, we took our predictive analytics skillset to a notch higher. You learned and practically implemented sophisticated cutting-edge machine learning and deep learning algorithms to improve our results in the predictive power. We studied ensemble modeling techniques in machine learning such as random forest and extreme gradient boosting, xgboost. You also learned the basics of neural networks and deep learning using Multilayered Perceptrons, that is, MLP. In the overall exercise, we achieved better and improved results for our use case to predict the end quality of the detergent before the manufacturing process. We built a valuable solution for John and his team with an opportunity where they could take immediate actions to mitigate the bad quality produce and reduce the overall losses by 16%.

In the next chapter, we will reinforce our problem solving and decision science skills by solving another IoT use case in a fast-track mode. We'll revisit the decision science journey...