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

Sensing the associated latent problems


Problems in real life are often never solo; they are mostly interconnected with multiple other problems. Decision science is also no exception to this feature. While solving a decision science problem, we would often reach a point where we understand that solving the associated problem is more important than the current problem. In some cases, solving associated problems becomes inevitable in order to move ahead. In such cases, we would not be able to practically solve the current problem until and unless we solve the associated problems.

Let's take an example to understand this better. Consider that while solving the problem to identify the reasons for bad-quality detergent manufactured, we inferred that the vital cause for the problem is the difference in raw materials from different vendors or because of insufficient labor in the manufacturing plant (assume). In some cases, the machinery downtime or inefficiency can also be vital reasons for the problem...