Communication: IoT system increases and encourages machine to machine communication (also known as M2M). Because of this ingenious innovation, physical devices stay in touch with one another leading to greater efficiency and higher quality. It also allows full transparency.

Automated: Due to the overall wireless infrastructure of these smart devices, it requires little to no human intervention, being able to pretty much operate on their own. This allows for greater control and automation leading to more operating efficiency.

Information: IoT systems have allowed a greater flow of information which in turn allows people to make better decisions. It can be as simple as Siri informing you that you are out of groceries to more complicated decisions at work. As people say knowledge is power! The systematic use of information also allows you to save time and work in an effective manner.

Volume: There are huge clusters of data sets that IoT applications make use of. The business organizations need to manage these large volumes of data and need to analyze the same for extracting relevant patterns. These datasets along with real-time data can be analyzed easily and efficiently with data analytics software.

Structure: IoT applications involve data sets that may have a varied structure as unstructured, semi-structured and structured data sets. There may also be a significant difference in the data formats and types. Data analytics will allow the business executive to analyze all of these varying sets of data using automated tools and software.

Driving Revenue: The use of data analytics in IoT investments will allow the business units to gain an insight into customer preferences and choices. This would lead to the development of services and offers as per the customer demands and expectations. This, in turn, will improve the revenues and profits earned by the organizations.