Productivity and efficiency goals drive IoT investments

Australian enterprises are looking to the internet of things (IoT) to help improve productivity and efficiencies in their businesses, according to the International Data Corporation (IDC).

In fact, 44% have already implemented IoT, with most aiming to enhance output and customer services, IDC reported.

“Australian organisations most frequently use productivity gains as a key performance indicator (KPI) to assess the success of IoT,” the market intelligence provider said.

Businesses “want to be able to quantify the benefits they receive from IoT”, said IDC Associate Market Analyst Liam Landon.

They “aren’t interested in deploying IoT technology solutions for the sake of it” and instead, are “looking for solutions to specific business problems”, IDC added.

“Vendors should be able to demonstrate how IoT and their data analytics solution can improve a customer’s efficiency and productivity, ideally with use cases,” Landon said.

“Our research shows Australian businesses are looking for vendors with a deep understanding of their vertical, to enable solutions to business problems within specific industries. IoT vendors that can combine technical know-how with industry expertise have the advantage,” he concluded.

Image credit: ©stock.adobe.com/au/tippapatt