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
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About the Author
About the Reviewer
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Preface

Designing the heuristic driven hypotheses matrix (HDH)


Designing the framework for heuristics-driven and data-driven hypotheses forms the foundation of the problem solving framework. The entire blueprint of the problem and problem universe can be captured in this single framework. This isn't a fancy document or any complicated tool. It's just a simple and straightforward way to structure and represent the problem solving approach.

There are three parts to it:

  • Heuristics-driven Hypotheses Matrix (HDH)

  • Data-driven Hypotheses Matrix (DDH)

  • The convergence of HDH and DDH

The heuristics-driven hypotheses is the final and refined version of the hypotheses list that we discussed earlier. The matrix captures every minute detail we need from the hypotheses. It helps us prioritize and filter the hypotheses based on data availability and other results. It also helps us gather all our results in one single place and assimilate in order to render a perfect story. Once the entire HDH is populated, the initial...