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
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Preface

Setting context for the problem


Let's start fresh with another new IoT use case from the renewable energy domain. Let's assume that a multinational conglomerate giant has forayed into the field of renewable energy to provide solar energy as a service for off-grid locations. The company aims to provide end-to-end solar energy setup in areas where drawing an electric cable for power is much more expensive than arranging diesel for a generator. Tropical countries in Africa will be a perfect example for this scenario. Consider a small village in Uganda where there is an abundance of solar energy but no electricity; many small to medium organizations rely on diesel-powered generators for daily operations. The operational expenses for these organizations would go beyond break-even as a huge cost is incurred in transporting and arranging diesel, maintaining and servicing the diesel generators time to time, and purchasing the required diesel to generate electricity.

The company engineered a solution...