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

Exploring each dimension of the IoT Ecosystem through data (Univariates)


Let's dig deeper into each dimension in the IoT use case to understand more realistically what the data showcases. We will perform extensive univariate analysis to study and visualize the entire data landscape.

What does the data say?

We visited the data dimensions while exploring the gold mines in data (in the previous section) and understood that Product_Qty_Unit, Product_ID, Material_ID, and Product_Name indicate that the columns contain a single value. Therefore, we conclude that the data in the use case is provided for a specific product and its output is measured in Kgs. Let's start exploring Order Quantity and Produced Quantity in depth. We initially studied the data dimensions using summary commands that gave us the percentile distribution. Let's take this one step further.

Order Quantity and Produced Quantity are both continuous variables, that is, a variable that can have infinite number of values possible (say...