7. Conclusion
Because the IoT is such a recent development, there is still a paucity of studies on the social, behavioral, economic, and managerial aspects of the IoT. This makes it very challenging for companies to make informed decisions as regards IoT adoption/ implementation. Our article is one ofthe firststudies on a conceptual model of IoT applications for enterprises.In this article we identified three categories of IoT applications: monitoring and control, big data and business analytics, and information sharing and collaboration. We also presented investment opportunities and investment evaluation with NPV and real options. Finally, we discussed five challenges in implementing IoT applications for enterprises.