What is the primary purpose of an IP address?

An IP address serves as a unique identifier for devices on a network, which is crucial for the functioning of network communication. It enables devices to find and communicate with each other over the internet or any other TCP/IP-based network. Each device connected to a network must have a distinct IP address to ensure that data packets are sent to the correct destination. This addressing scheme allows routers and switches to efficiently direct network traffic, ensuring that the information reaches the intended receiver without confusion.

In contrast, the other options do not accurately capture the primary role of an IP address. For instance, defining network speed pertains to bandwidth and connection type rather than addressing. Monitoring internet traffic involves analyzing the data flow across networks, which is a different function from what an IP address provides. Finally, managing data storage relates to how data is organized and retrieved on physical or cloud-based storage systems, rather than to the identification or addressing of devices. Thus, the primary purpose of an IP address is indeed to function as a unique identifier for devices on a network.