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  • Book Overview & Buying Smarter Decisions - The Intersection of Internet of Things and Decision Science
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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
5 (1)
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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
Buy this Book

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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Preface
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Preface
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What this book covers
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What you need for this book
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Who this book is for
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Sections
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Conventions
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Reader feedback
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Customer support
Lock Free Chapter
1
1. IoT and Decision Science
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1. IoT and Decision Science
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Understanding the IoT
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Demystifying M2M, IoT, IIoT, and IoE
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Digging deeper into the logical stack of IoT
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The problem life cycle
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The problem landscape
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The art of problem solving
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The problem solving framework
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Summary
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2. Studying the IoT Problem Universe and Designing a Use Case
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2. Studying the IoT Problem Universe and Designing a Use Case
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Connected assets & connected operations
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Defining the business use case
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Sensing the associated latent problems
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Designing the heuristic driven hypotheses matrix (HDH)
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Summary
3
3. The What and Why - Using Exploratory Decision Science for IoT
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3. The What and Why - Using Exploratory Decision Science for IoT
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Identifying gold mines in data for decision making
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Exploring each dimension of the IoT Ecosystem through data (Univariates)
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Studying relationships
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Exploratory data analysis
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Root Cause Analysis
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Summary
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4. Experimenting Predictive Analytics for IoT
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4. Experimenting Predictive Analytics for IoT
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Resurfacing the problem - What's next?
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Linear regression - predicting a continuous outcome
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Decision trees
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Logistic Regression - Predicting a categorical outcome
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Summary
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5. Enhancing Predictive Analytics with Machine Learning for IoT
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5. Enhancing Predictive Analytics with Machine Learning for IoT
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A Brief Introduction to Machine Learning
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Ensemble modeling - random forest
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Ensemble modeling - XGBoost
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Neural Networks and Deep Learning
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Packaging our results
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Summary
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6. Fast track Decision Science with IoT
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6. Fast track Decision Science with IoT
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Setting context for the problem
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Defining the problem and designing the approach
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Exploratory Data Analysis and Feature Engineering
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Building predictive model for the use case
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Packaging the solution
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Summary
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7. Prescriptive Science and Decision Making
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7. Prescriptive Science and Decision Making
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Using a layered approach and test control methods to outlive business disasters
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Connecting the dots in the problem universe
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Story boarding - Making sense of the interconnected problems in the problem universe
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Implementing the solution
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Summary
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8. Disruptions in IoT
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8. Disruptions in IoT
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Edge/fog computing
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Cognitive Computing - Disrupting intelligence from unstructured data
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Next generation robotics and genomics
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Autonomous cars
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Privacy and security in IoT
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Summary
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9. A Promising Future with IoT
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9. A Promising Future with IoT
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The IoT Business model - Asset or Device as a Service
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Smartwatch – A booster to Healthcare IoT
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Smart healthcare - Connected Humans to Smart Humans
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Evolving from connected cars to smart cars
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Summary

The IoT Business model - Asset or Device as a Service

The Internet of Things started with the simple concept of Connected Devices and Connected Assets. A small network of connected devices made a lot of tasks easier and intuitive that were not feasible earlier. Gradually, connected devices/assets opened up new opportunities with smart devices/assets. In no time, the evolution paced up, and we had a tangible implementation of smart devices in every dimension of consumer electronics, home appliances as well as industrial assets. As the technology matured, the concept of smart factory evolved, that is, Industry 4.0 or the fourth industrial revolution, and eventually smart connected operations became a reality that was complemented with success stories from different parts of the globe.

The Asset as a Service model has its roots in the vanilla 'lease model' widely adopted in the world. You can lease your house, vehicle, or some appliance for a while and earn money for the time period it was utilized...

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Tech Concepts
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Programming languages
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