The volume of data produced by IoT devices is exploding and overwhelming traditional databases, leading to failing applications and missed opportunities. Even if applications can ingest data at the speed it arrives, the latency involved in preparing that data for analysis and decision-making can inflate the time-to-value by minutes, hours, or even days. The goal of modern IoT applications is continuous decision-making based on real-time insights derived from the most up-to-date data. To do so, they must be hosted on a data platform that meets the real-time requirements of these IoT applications. In this whitepaper, we discuss the data platform requirements of IoT applications.