This literature review examines the significance of the Internet of Things (IoT) and sensors in the business sector. The review synthesizes various research papers and studies to analyze the impact of IoT and sensor technology on business operations, data collection, and security. The review highlights the use of different types of sensors, such as temperature, humidity, and RFID sensors, in gathering data from consumers and employees. It also addresses security issues related to IoT networks and suggests potential solutions. The study explores the benefits of IoT and sensor technology, including improved performance, efficient management of computer devices, and the ability to monitor and control physical devices remotely. The review also touches upon the limitations of sensors used in IoT networks. Overall, the literature review concludes that IoT and sensor technologies can revolutionize business practices by enhancing productivity, improving customer satisfaction, and enabling more complex tasks to be performed efficiently.