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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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Chapter 4. Experimenting Predictive Analytics for IoT

Humans solve a problem by asking a series of nested questions to themselves. When a problem arises, asking Why, What, and How more and more number of times until all our questions are answered helps us solve a problem. Decision Science is no different. The entire stack of decision science, that is, Descriptive + Inquisitive + Predictive + Prescriptive, is designed on the basis of the different kinds of questions we ask. The solutions we develop get more and more powerful with the depth of the questions we frame Initially, we surface the problem space by understanding 'what' has happened, then we get in deeper by understanding how it happened. The solution to the problem becomes even more powerful when you have an answer to the question when, and this is when we touch base with Predictive Analytics. The ability to look into the future and then solve a problem is way more powerful and effective than any other alternative...

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