There are some cost considerations associated with IoT analytics specifically. They are not unique to IoT but become more pronounced with the scale and processing needs associated with it.
Cost considerations for IoT analytics
Cloud services costs
IoT analytics requires multiple layers of cloud services. There is often an IoT hub, message queue, load balancing, compute, storage, ML service, data warehouse, and security services included in an IoT analytics solution.
As mentioned previously, these costs can add up quickly if not designed carefully and monitored closely. Make sure to include all services in a business case and use cloud flexibility to minimize costs.
