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Using state-of-the-art technology, precision agriculture boosts agricultural output while minimizing negative environmental effects. Precision agriculture is a farming method that maximizes crop yields, reduces waste, and boosts production by using cutting-edge technology and data analysis. It is a viable tactic for addressing some of the main problems facing modern agriculture, such as feeding a growing global population while lessening its negative effects on the environment. This study looks at some recent developments in big data utilization and Internet of Things (IoT) based precision agriculture. The objective of this article is to present a summary of the latest advancements and potential applications of smart farming and precision agriculture. It provides a review of precision agriculture's current situation, taking into account the newest technological advancements such as machine learning, sensors, and drones.