Transmitting and collecting data from sensors attached to different devices/machines using Cloud technology is just one part of IOT. The other significant part of IOT is how you leverage the large volume of data that is being collected, how efficiently and accurately you analyze this raw data in real-time and make it actionable. In order to make data actionable, you need to process and interpret data, provide context and convert it into actionable information.
In some cases, you will collect and send data to a Centralized Data Store for data analytics. In other cases, Edge Computing can be used as a more convenient and faster option. In this approach data analytics is done at the sensor or network switch which is fast, secure and eliminates bandwidth concerns. In the past couple decades, we have seen IOT implemented across different systems around us. We have Smart appliances(tv, refrigerator), Smart homes(Control4) all of which fall under Consumer IOT solutions.