IBM to invest $3 billion in "Internet of Things" unit

NEW YORK - IBM (IBM) says it is investing $3 billion over the next four years to create an "Internet of Things" business unit that will collect and analyze data from smartphones, tablets and other connected devices so that businesses can use it in their operations.

IBM estimates that 90 percent of all data generated by mobile devices, connected vehicles and appliances is never analyzed.

The company hopes to change that by creating partnerships with companies such as Twitter and the Weather Co., and developing cloud-based data services and tools for developers.

"Internet of Things" refers to the growing number of Internet-connected, smart devices in our homes, pockets and around us.