In this present era, internet and cyber technologies have revolutionized and improved people's lifestyles completely at a remarkable rate. Having significant benefits, there are certain challenges faced by current technologies. In this perspective, one of the main challenges is not the production and acquisition of data; rather, it is the proper management, of it, including storage and analysis of data, has become a major concern. In this article, we conduct a study to discuss the two most widely used data centric technologies, i.e., Cyber Physical Systems (CPSs) and Internet of Things (IoT). The goal is to identify the architectural similarities and differences to achieve an interoperable solution that can manage data more efficiently. Our analysis revealed that a possible transformation of IoT to CPS and vice versa is possible when certain transformation steps are performed.