How could machine learning algorithms be applied to IoT smart data?

The purpose of Internet of Things, (IoT) is to develop a smarter environment, and a simplified life-style by saving time, energy, and money. Through this technology, the expenses in different industries can be reduced. The enormous investments and many studies running on IoT has made IoT a growing trend in recent years. IoT is a set of connected devices that can transfer data among one another in order to optimize their performance; these actions occur automatically and without human awareness or input. IoT includes four main components: 1) sensors, 2)processing networks, 3) analyzing data, and 4) monitoring the system.