Big data, the IoT, and the cloud are technological innovations that need to demonstrate corresponding business value. While the aforementioned technologies have distinct identities of their own, they are also interdependent. Innovating with these technologies at a business level demands a multidisciplinary, holistic approach that also incorporates an understanding of how to manage risks. In this Advisor, we discuss challenges that arise in real-life scenarios due to lack of interoperability and some practical standards in the IoT and cloud space.