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

Chapter 3. The What and Why - Using Exploratory Decision Science for IoT

Problems in any given scenario always keep evolving and so does the solution. The hypotheses that we define while solving the problem will refine with new findings, which will then change the approach partially or completely. Hence, we need to keep our problem solving approach very agile. The problems we solve are often interconnected in nature; a big problem is often composed as a network of multiple smaller problems. These smaller problems can germinate from completely disparate domains, so we would need to accommodate diversity in our approach. Also, the solution can have different approaches based on the problem's scenario. The approach could be top-down, bottom-up, or hybrid; therefore, our solutions need to be flexible. Lastly, the problem can inflate to a mammoth size, thus our solutions need to be scalable.

In this chapter, we will solve the business problem that we defined in Chapter 2, Studying the IoT Problem...