PT TELKOM is part of the IoT ecosystem that provides IoT services as well as network operation and connection. The success of PT TELKOM's business strategy can be seen in the business model it has. However, the relationship between the business model and business strategy is not yet clearly known. The results of the questionnaire are then processed by methods of analyzing factors and canonical correlations to see the dominating factors of the business model and business strategy and see the relationship between the two variables. Then using the SWOT method to provide strategic recommendations to the company. item X13 at value proportion X23 on the value network and X41 in value architecture is the dominant item reflected in the business dimension of this model. items Y12 on Unfold, Y21 and Y22 on Coordinate, Y33 on Communicate, Y42 on Control, and Y52 on Recognize and Develop are the dominant items reflected in the business strategy dimension and also show there is a relationship between business model and business strategy with a canonical correlation of 87.886%. The results of matrix analysis I-E, then developed using SWOT analysis, where the results obtained that the company in Quadrant I. namely the strengths owned by the company are better than existing weaknesses, and the company still has wider opportunities or opportunities than the threat to be faced.