This paper discusses the design of a business model dedicated for IoT applications that would be deployed on top of cloud and fog resources. This business model features 2 constructs, flow (specialized into data and collaboration) and placement (specialized into processing and storage). On the one hand, the flow construct is about who sends what and to whom, who collaborates with whom, and what restrictions exist on what to send, to whom to send, and with whom to collaborate. On the other hand, the placement construct is about what and how to fragment, where to store, and what restrictions exist on what and how to fragment, and where to store. The paper also discusses the development of a system built-upon a deep learning model that recommends how the different flows and placements should be formed. These recommendations consider the technical capabilities of cloud and fog resources as well as the networking topology connecting these resources to things.