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

Summary


In this chapter, we studied the disruptions in IoT. We studied how the growth of IoT has emerged innovations in different fields and how other fields have leveraged IoT directly or indirectly to trigger disruptions in the market. We explored the fog or edge computing model and saw how the IoT infrastructure can be scaled efficiently while still keeping it a viable solution. To study the fog computing model in detail, we explored a hypothetical use case similar to the manufacturing use case studied in earlier. We saw how connected devices or assets can be designed to become state-of-the-art smart devices where intelligence is pushed to the logical extremes of the network, promoting quick and intelligent self-decisions to improve an outcome.

We explored cognitive computing, a fairly new but very promising and interesting area emerged from the convergence of artificial intelligence, IoT, and edge computing. We saw how machines can be designed to learn on their own and solve a human-like...