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

Connected assets & connected operations


With the swift progress of IoT in every dimension in the industry, the associated problems also diversified into the respective domains. To simplify problems, industry leaders took the most intuitive step by defining logical segregations in the IoT domain. Today, there is a plethora of articles and papers published over the Internet, which cite different names and classifications for IoT. As of now, we don't have any universally accepted classification for IoT, but we do see different names such as Consumer IoT, Industrial IoT, Healthcare IoT, and so on. All the IoT-related problems and solutions in the industrial domain were termed as Industrial IoT and so on.

Before studying Connected Assets and Connected Operations, let's explore a simplified classification for the IoT domain. This is definitely not the most exhaustive and widely recognized one, but it will definitely help us understand the nature of the problem better:

When we look at the entire...