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Businesses deploying IoT despite lack of understanding

According to a report from Strategy Analytics, commercial use of the IoT is on the rise, however there are concerns about the fact that many businesses do not seem to understand how to use the connected system to their benefit.

The IoT 2016 Deployment Trends and Usage Survey polled over 350 global businesses from 23 markets including industrial IoT, manufacturing, healthcare, academic, banking/finance, government, retail and smart buildings. The report found that 70 per cent of firms are now using IoT in some capacity, a steep increase from just 32 per cent last year.

However, according to Laura DiDio, director of IoT systems research and consulting, many organisations are struggling with the implementation of these systems.

“Integration with legacy systems (41 per cent) and security are the biggest impediment to IoT deployments. Only 13 per cent of respondents said that IoT will strengthen security and 56 per cent said security is their top technical challenge,” she said.

“Another concern is that nearly half of businesses have not completed a detailed cost analysis, which is crucial.”

Furthermore, according to Andrew Brown, strategy analytics executive director of enterprise and IoT research, data analytics emerged as the top reason for IoT deployment. However, many companies also admitted to struggling with how to analyse the data to benefit their business.

“The data deluge is problematic; over 50 per cent report that they have too much data to be able to analyse it efficiently,” he said.

“We also found that 44 per cent of respondents currently perform some data analytics but admit they could do a better job and 31 per cent of organisations do not currently store IoT data at all.”

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