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

Connecting the dots in the problem universe


If we take a look at the problem universe that we designed for our telecom giant's use case, we can see that we have identified multiple problems. A few are basically the hypotheses that we might have missed while brainstorming for HDH; additionally, due to limited visibility of the domain, we might have missed out during the creation of DDH. After reaching prescriptive analytics, we would have ideally finished one complete iteration of the problem. At this point, we will have reinforced our understanding about the problem and domain better. We can leverage this to improve the problem further with another round of iteration, but in some cases, we might find out a few new problems that are completely different from the current problem we are trying to solve. For our use case, refer to the following problem universe:

The problems highlighted in red are actually new problems. Staff training and customer education are smaller problems that can be...