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

Defining the business use case

So far, we have explored what kind of problems arise in a typical IoT scenario and how they can be classified into Connected Operations and Connected Assets. Let's now focus on designing and solving a practical business use case for IoT. We will explore how we can solve problems using the interdisciplinary approach of decision science in IoT.

We'll start with a simple problem in the manufacturing industry. Assume that there is a large multinational consumer goods company, say, Procter & Gamble, who owns a plethora of products. Consider their detergent product, Tide, to study our example. Tide is a detergent powder that comes in liquid form as well, has a variety of scents, different cleanliness levels, and so on. ...