The internet of things and big data are separate but related hot topics. As is often the case with new technology, the definitions are fluid, the potential is unclear, and they pose challenges to legal issues. All of these will develop over time.
Take privacy, for example. The basic concept of big data is that huge amounts of data are collected and mined for useful information. That flies in the face of privacy principles that no more personal info than the task at hand needs should be collected, and that it shouldn’t be kept for longer than the task at hand requires. Both of these concepts can lead to personal info being created, while privacy laws generally focus on the concept of personal info being collected.
Another legal issue is ownership of information, and who gets to control and use it. If no one owns a selfie taken by a monkey, then who owns information created by your car?