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

Summary

This chapter was an introduction to Decision Science and IoT. You learned about the basics of IoT and how it evolved and understood the differences between ambiguous names such as M2M, IIoT, IoE, and others. We studied the logical architecture of the IoT ecosystem by considering IoE and learned how People, Processes, Data, and Things together form the IoT ecosystem. We also discussed decision science and understood more about defining a problem based on the current life stage as Muddy, Fuzzy, or Clear, based on its type as Impactful and Frequent, and finally based on its nature as Descriptive, Inquisitive, Predictive, or Prescriptive. We also studied that problem solving in decision science requires an interdisciplinary approach using ...