"At the end of the day, for businesses those things are very much commodities," said Fadaghi. "Those things are just part of the fabric of the Internet of Things. They're not where the value is contained."
"The surveys showed that the value is contained in the ability to make better decisions."
The report found that two-thirds of Australian organisations that have deployed and measured IoT solutions have achieved 28 per cent cost reductions in their day-to-day operations.
However, only 26 per cent of the more than 300 Australian organisations surveyed said they have deployed Internet of Things solutions, and nearly half said they had no immediate plans to deploy.
Barriers to adoption include technology challenges, cost, security and lack of in-house skills, the report said.
Telsyte surveyed 306 Australian business decision makers, spread evenly across IT, C-level and business management roles. Telsyte looked across all major industries and spoke with organisations that had at least 20 employees, said Fadaghi.
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