Over the last decade, data analytics has exploded from a niche field with narrow applications and a hefty price tag to a broad set of more cost-efficient processes applicable in dozens of industries.

Industries such as manufacturing and retail already are leveraging valuable data generated by billions of devices to provide new levels of operational and economical insights. And as tools like machine learning and automated algorithms come online, we seem to have arrived at a critical juncture in the evolution of the Internet – this is where the Internet of Things (IoT) enters the picture.