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
eBooks, discount offers, and more
Preface

Studying relationships


The end result of the produce from the manufacturing plant is whether it can be accepted as a good quality product or discarded due to bad quality. This status for each manufacturing exercise is identified in the data using the 'Detergent_Quality' dimension, which is calculated using some weighted algorithm by taking into account the four output quality parameters of the end detergent produced. Our end goal is to find out the reasons why the final product was not accepted, which shows that we need to study why the output quality was bad. The reasons could be many, but how do we identify them? This is when the task of studying relationships is presented to the decision scientist. We have with us plenty of independent variables that are either continuous or categorical. Trying to understand how these independent dimensions eventually contribute to the end output is where we start studying the relationship between them. The entire exercise can be simply defined as bivariate...