On Bytebeam a Project is a logical grouping of everything related to one kind of device. If you have multiple product lines you want to manage with Bytebeam, you will usually create one project for each product line.
For example: If a smart home appliance manufacturer is making both smart fans and smart bulbs they would usually push different kinds of data and also would want to do different kind of analytics for each product line. In this case they will have two projects.
If you have not already created a project you can learn how over here: