IoT field device collects the data from the field transducers analyses it before sending to cloud. Data collection, analysis and data transfer to cloud is optimized according to needs e.g. accuracy, battery life and/or cost. The clod stores, processes and analyses the data send by the transducers via the field device. By analysing the information like motor current, vibration and temperature with advanced algorithms including motor models and pump models, it is possible to get many quantities and processes values. Even prediction of failure modes is possible. Output information can be e.g. motor speed, torque, stalling, cavitation, clogging, coupling problem, wear prediction, bearing failure, unbalance, misalignment, overheating etc. User Interphase gives the user access to pre-definer set of information and analysis results. It is easy to view the status of the whole fleet of equipment via the user interphase.