The concepts and technologies disclosed herein are directed to policy-based programmable Internet of Things (“IoT”) devices. An apparatus, for example, can include a device that includes an interface through which the device is to be connected to an asset. The asset can include one or more asset sensors. The device can include one or more device sensors, a network module, and a controller that executes instructions that cause the device to perform operations. In particular, the controller can execute instructions to cause the device to receive a device policy that instructs the device to collect device data from the device sensor(s) in accordance with a device ruleset. The device also can receive an asset policy that instructs the device to collect asset data from the asset sensor(s) in accordance with an asset ruleset. The device can collect the device data and the asset data in accordance with the device/asset policies.