With the improvement of China’s economic development and people’s living standards, the demand for talent training in colleges and universities is also increasing. In this context, the smart laboratory came into being. In the construction of smart laboratories, the application of Internet of Things (IoT) is very important. Smart laboratories have many advantages, which can achieve more efficient and accurate information acquisition. In the process of applying IoT technology to the construction of smart laboratories, a lot of information needs to be collected, including various instruments and equipment in the laboratory and laboratory personnel. Therefore, the application of IoT technology in laboratory construction is of great significance to the study of laboratory teaching and the analysis of experimental results. This paper constructed the smart lab through IoT technology, and used IoT big data mining algorithm to analyze the data of the smart lab teaching. The intelligent laboratory and conventional multimedia laboratory based on IoT technology were compared and studied. The research results showed that, under the same other conditions, 46 students in Class X passed the exam after teaching in the smart laboratory, with a passing rate of 92%. There were no people below 50 points. After teaching in the conventional multimedia laboratory, 43 students in Class Y passed the exam, with a passing rate of 86%. There were two others whose scores were below 50. Compared with Class Y, Class X has made significant progress, which showed that the relationship between the two was positive, and IoT technology could better build a smart laboratory.