The Internet of Things IoT requires communication between the enterprise server with all the devices and sensors embedded within downstream "things". One way this is accomplished is through an open source protocol, similar to the HTTP protocol, and it's named MQTT. The protocol is lightweight and can push and pull messages. The orchestration occurs through HiveMQ Enterprise MQTT Broker. From the link provided:
In the world of Microsoft, we have the Azure Event Hub. This implementation available on the Azure Platform, based of the original Service Broker, then Service Hub, is designed to handle massive loads in the cloud. The best part about this technology is the "guaranteed deliver". Event Hub takes it a step further using "partitions" to allow scalability for millions of transactions. As the messages arrive, you can store them in Azure SQL Server or Azure HDInsight or Azure VM which hosts Hadoop, or you can re-route the messages to another Event Hub. Quite powerful. Another useful link.
IoT is already a reality. However, there are some concerns about "security". As every application has potential to be hacked and any device connected to the internet can be penetrated. Some reason for concern, although, chances are, some smart people are working on this exact issue as we speak.
And there you have it. Reporting? Great. BI and Data Warehousing? Great too. Internet of Things? The future~!