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Smarter Decisions - The Intersection of Internet of Things and Decision Science

Smarter Decisions - The Intersection of Internet of Things and Decision Science

By : Jojo Moolayil
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Smarter Decisions - The Intersection of Internet of Things and Decision Science

Smarter Decisions - The Intersection of Internet of Things and Decision Science

5 (1)
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 (10 chapters)
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Root Cause Analysis

We now begin our journey with answering the why question from all the insights we have gathered till now. Let's assimilate all our results that we have validated in our EDA exercise. Once we have all the results, let's try to simplify it to create a simple story that helps us in answering the questions in a more lucid way.

The following figure is an extended version of the DDH matrix we designed in the previous section along with the results we found during our exercise:

Hypothesis

Result

Insight

Line 1 has an overall higher chance of manufacturing more number of bad quality detergent products

FALSE

Assembly Line has no impact on the end quality of the detergent

Line 1 has an overall higher chance of deteriorating the Output Quality Parameters in the detergent

TRUE

Assembly line has an impact on Output Quality Parameter 2,3, and 4

As the deviation between Order Quantity and actual Produced Quantity increases, the chance of the bad quality detergent...

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Smarter Decisions - The Intersection of Internet of Things and Decision Science
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