Businesses Delve Into IoT Big Data, But “Huge Concerns” Remain Over Security
Big data analytics is driving business IoT deployment, yet “huge concerns” remain over security, with businesses also uncertain about cost savings benefits, a Strategy Analytics report has found.
Big data analytics is the primary driver behind IoT deployments, according to 56 per cent of respondents, a Strategy survey of over 350 global businesses from 23 vertical markets found, with 70 per cent of firms now using IoT in some capacity.
“Integration with legacy systems (41 per cent) and security are the biggest impediment to IoT deployments,” Laura DiDio, Strategy director of IoT systems research and consulting, commented.
“Only 13 per cent of respondents said that IoT will strengthen security and 56 per cent said security is their top technical challenge. Another concern is that nearly half of businesses have not completed a detailed cost analysis, which is crucial.”
Meanwhile, Strategy executive director of enterprise and IoT research Andrew Brown noted that despite data analytics being the top reason for IoT deployment, “a significant percentage of companies struggle with how to analyse that data to benefit their business”.
“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.”
The survey additionally found that 80 per cent of respondents currently use or plan to deploy IoT within the next three to 12 months, yet only 25 per cent have a full-scale, end-to-end IoT deployment, with the top IoT services being: office security/video surveillance, smart building controls, financial analytics and healthcare analytics/diagnostics.