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Internet of Things analytics (IoT analytics) refers to analyzing and examining the data obtained by the Internet of Things. Sensors, network end devices and other data storing and transmitting equipment are the key components of collection of Internet of Things data, upon which analysis is performed.
A number of firms, that collect both online and offline data to develop business solutions as well as academic answers, perform Internet of Things analytics. Users are most interested in how their product can bring about change in an individual’s lifetime. IoT analytics offers the capability to combine operative information with data from IT systems and deliver intelligent analytics to those stakeholders who need them most. IoT analytics can be applied to industrial automation, mobile apps, cloud solutions and hardware development, among other things. Hence it can involve in-depth market analysis, general trends, economic state and forecasting of a product’s life cycle.