Imperial College London
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Pedro M. Baiz V.

Faculty of Engineering, Department of Computing

Honorary Senior Research Fellow
 
 
 
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Contact

 

+44 (0)7916 253 021p.m.baiz

 
 
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Location

 

ACE ExtensionSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Houston:2017:10.3390/systems5010004,
author = {Houston, C and Gooberman-Hill, S and Mathie, R and Kennedy, A and Li, Y and Baiz, P},
doi = {10.3390/systems5010004},
journal = {Systems},
title = {Case study for the return on investment of Internet of Things using agent-based modelling and data science},
url = {http://dx.doi.org/10.3390/systems5010004},
volume = {5},
year = {2017}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - As technology advances towards new paradigms such as the Internet of Things, there is a desire among business leaders for a reliable method to determine the value of supporting these ventures. Traditional simulation and analysis techniques cannot model the complex systems inherent in fields such as infrastructure asset management, or suffer from a lack of data on which to build a prediction. Agent-based modelling, through an integration with data science, presents an attractive simulation method to capture these underlying complexities and provide a solution. The aim of this work is to investigate this integration as a refined process for answering practical business questions. A specific case study is addressed to assess the return on investment of installing condition monitoring sensors on lift assets in a London Underground station. An agent-based model is developed for this purpose, supported by analysis from historical data. The simulation results demonstrate how returns can be achieved and highlight features induced as a result of stochasticity in the model. Suggestions of future research paths are additionally outlined.
AU  - Houston,C
AU  - Gooberman-Hill,S
AU  - Mathie,R
AU  - Kennedy,A
AU  - Li,Y
AU  - Baiz,P
DO  - 10.3390/systems5010004
PY  - 2017///
SN  - 2079-8954
TI  - Case study for the return on investment of Internet of Things using agent-based modelling and data science
T2  - Systems
UR  - http://dx.doi.org/10.3390/systems5010004
UR  - http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000398707800003&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=1ba7043ffcc86c417c072aa74d649202
UR  - http://hdl.handle.net/10044/1/57336
VL  - 5
ER  -
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