This study aims to address the challenges of managing the vast amount of data generated by Internet of Things (IoT) devices by categorizing stakeholders based on their roles in IoT security. As the number of connected devices increases, so do the associated security risks, highlighting the need for skilled stakeholders to mitigate these risks and prevent potential attacks. The study proposes a two-part approach, which involves clustering stakeholders according to their responsibilities and identifying relevant features. The main contribution of this research lies in enhancing decision-making processes within IoT security management. The proposed stakeholder categorization provides valuable insights into the diverse roles and responsibilities of stakeholders in IoT ecosystems, enabling a better understanding of their interrelationships. This categorization facilitates more effective decision making by considering the specific context and responsibilities of each stakeholder group. Additionally, the study introduces the concept of weighted decision making, incorporating factors such as role and importance. This approach enhances the decision-making process, enabling stakeholders to make more informed and context-aware decisions in the realm of IoT security management. The insights gained from this research have far-reaching implications. Not only will they benefit stakeholders involved in IoT security, but they will also assist policymakers and regulators in developing effective strategies to address the evolving challenges of IoT security.