Data Analytics in the Era of the Industrial Internet of Things

This book presents the characteristics and benefits industrial organizations can reap from the Industrial Internet of Things (IIoT). These characteristics and benefits include enhanced competitiveness, increased proactive decision-making, improved creativity and innovation, augmented job creation, heightened agility to respond to continuously changing challenges, and intensified data-driven decision making. In a straightforward fashion, the book also helps readers understand complex concepts that are core to IIoT enterprises, such as Big Data, analytic architecture platforms, machine learning (ML) and data science algorithms, and the power of visualization to enrich the domains experts’ decision making. The book also guides the reader on how to think about ways to define new business paradigms that the IIoT facilitates, as well how to increase the probability of success in managing analytic projects that are the core engine of decision-making in the IIoT enterprise. The book starts by defining an IIoT enterprise and the framework used to efficiently operate. A description of the concepts of industrial analytics, which is a major engine for decision making in the IIoT enterprise, is provided. It then discusses how data and machine learning (ML) play an important role in increasing the competitiveness of industrial enterprises that operate using the IIoT technology and business concepts. Real world examples of data driven IIoT enterprises and various business models are presented and a discussion on how the use of ML and data science help address complex decision-making problems and generate new job opportunities. The book presents in an easy-to-understand manner how ML algorithms work and operate on data generated in the IIoT enterprise. Useful for any industry professional interested in advanced industrial software applications, including business managers and professionals interested in how data analytics can help industries and to develop innovative business solutions, as well as data and computer scientists who wish to bridge the analytics and computer science fields with the industrial world, and project managers interested in managing advanced analytic projects.