The Internet democratized information. The Internet of Things (IoT) will democratize knowledge. As industrial researchers who work with businesses, we at Tata Consultancy Services see our customers in every industry looking for ways to create active knowledge and insight from IoT data. Organizations wish to innovatively apply this data to new business models in which understanding and addressing customer needs and demands is the focus (not just the product or ser-vice, as it is now), culminating in an improved B2C or B2B2C value chain for most businesses. Is IoT technology geared up to meet the challenge? What can we do to make the IoT hype and prospects a reality? Toward this end, I identify six key interest areas we should pay attention to-scalability, privacy, affordability, context-awareness, ease-of-development, and security, or SPACES. I elaborate on each of these here.