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 6. Fast track Decision Science with IoT

Decision science differs from data science in the path of problem solving on a variety of factors. Though this can be a never-ending debate, decision science can be aligned more on the front of solving problems using a structured framework that is inquisitively driven by business questions, and data science can be defined as a more sophisticated version of data-driven analytics and modeling. Our problem solving approach is more aligned with decision science.

In Chapter 2, Studying the IoT Problem Universe and Designing a Use Case you learned in depth about an IoT business use case. We then defined the problem and designed an approach to solve it using the 'problem solving framework'. It helped us build the blueprint for the problem solving task in detail. In Chapter 3, The What and Why -Using Exploratory Decision Science for IoT we practically tried solving the problem using the approach drafted in Chapter 2, Studying the IoT Problem Universe...