If you are fine with the points in the cluster being determined by the map based on zoom level, then yes, this would work for you. Note that if you wanted the cluster all sensors limited to say an individual building then that would be custom clustering logic that doesn't exist in the map and you would need to do some preprocessing of the data to support that. Here is a sample for cluster aggregates: https://samples.azuremaps.com/?sample=cluster-aggregates
Also good to know, is "cluster aggregates" supports addition, multiplication, min, and max expressions. For more advanced calculations you can break your calculations into parts and calculate aggregates of parts and then in the cluster layer, have a style expression that combines these separate clustered calculated values into a more complex formula. For example, if you wanted to calculate the size of range of values in a cluster, you can have two separate aggregate calculations, one to get the min, the other the max. Then in layers style options, you can combine these in your style expression by subtracting the max by the min to get the difference between min and max.
Documentation for cluster aggregates: https://learn.microsoft.com/en-us/azure/azure-maps/clustering-point-data-web-sdk#aggregating-data-in-clusters
If you can provide an example of the properties one of your features will contain and what you are looking to calculate (i.e. total sum of X), I'd be happy to help you build the expression.