140,690 research outputs found
Towards Design Principles for Data-Driven Decision Making: An Action Design Research Project in the Maritime Industry
Data-driven decision making (DDD) refers to organizational decision-making practices that emphasize the use of data and statistical analysis instead of relying on human judgment only. Various empirical studies provide evidence for the value of DDD, both on individual decision maker level and the organizational level. Yet, the path from data to value is not always an easy one and various organizational and psychological factors mediate and moderate the translation of data-driven insights into better decisions and, subsequently, effective business actions. The current body of academic literature on DDD lacks prescriptive knowledge on how to successfully employ DDD in complex organizational settings. Against this background, this paper reports on an action design research study aimed at designing and implementing IT artifacts for DDD at one of the largest ship engine manufacturers in the world. Our main contribution is a set of design principles highlighting, besides decision quality, the importance of model comprehensibility, domain knowledge, and actionability of results
Big data analytics:Computational intelligence techniques and application areas
Big Data has significant impact in developing functional smart cities and supporting modern societies. In this paper, we investigate the importance of Big Data in modern life and economy, and discuss challenges arising from Big Data utilization. Different computational intelligence techniques have been considered as tools for Big Data analytics. We also explore the powerful combination of Big Data and Computational Intelligence (CI) and identify a number of areas, where novel applications in real world smart city problems can be developed by utilizing these powerful tools and techniques. We present a case study for intelligent transportation in the context of a smart city, and a novel data modelling methodology based on a biologically inspired universal generative modelling approach called Hierarchical Spatial-Temporal State Machine (HSTSM). We further discuss various implications of policy, protection, valuation and commercialization related to Big Data, its applications and deployment
Specification-Driven Predictive Business Process Monitoring
Predictive analysis in business process monitoring aims at forecasting the
future information of a running business process. The prediction is typically
made based on the model extracted from historical process execution logs (event
logs). In practice, different business domains might require different kinds of
predictions. Hence, it is important to have a means for properly specifying the
desired prediction tasks, and a mechanism to deal with these various prediction
tasks. Although there have been many studies in this area, they mostly focus on
a specific prediction task. This work introduces a language for specifying the
desired prediction tasks, and this language allows us to express various kinds
of prediction tasks. This work also presents a mechanism for automatically
creating the corresponding prediction model based on the given specification.
Differently from previous studies, instead of focusing on a particular
prediction task, we present an approach to deal with various prediction tasks
based on the given specification of the desired prediction tasks. We also
provide an implementation of the approach which is used to conduct experiments
using real-life event logs.Comment: This article significantly extends the previous work in
https://doi.org/10.1007/978-3-319-91704-7_7 which has a technical report in
arXiv:1804.00617. This article and the previous work have a coauthor in
commo
Review and Comparison of Intelligent Optimization Modelling Techniques for Energy Forecasting and Condition-Based Maintenance in PV Plants
Within the field of soft computing, intelligent optimization modelling techniques include
various major techniques in artificial intelligence. These techniques pretend to generate new business
knowledge transforming sets of "raw data" into business value. One of the principal applications of
these techniques is related to the design of predictive analytics for the improvement of advanced
CBM (condition-based maintenance) strategies and energy production forecasting. These advanced
techniques can be used to transform control system data, operational data and maintenance event data
to failure diagnostic and prognostic knowledge and, ultimately, to derive expected energy generation.
One of the systems where these techniques can be applied with massive potential impact are the
legacy monitoring systems existing in solar PV energy generation plants. These systems produce a
great amount of data over time, while at the same time they demand an important e ort in order to
increase their performance through the use of more accurate predictive analytics to reduce production
losses having a direct impact on ROI. How to choose the most suitable techniques to apply is one of
the problems to address. This paper presents a review and a comparative analysis of six intelligent
optimization modelling techniques, which have been applied on a PV plant case study, using the
energy production forecast as the decision variable. The methodology proposed not only pretends
to elicit the most accurate solution but also validates the results, in comparison with the di erent
outputs for the di erent techniques
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