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Lack of Strategy is Primary Barrier to Internet of Things Success.
Recent research by Sweden's Tele2 (Nasdaq: TLTO), concluded that lack of a clear business strategy is a far greater barrier to Internet of Things (IoT) adoption than any technology concerns.
The telco, which serves about 15 million customers across nine European markets, found that 60% of respondents picked "lack of strategy" over considerations including finance, technology and "lack of competence" when asked what they believed was the chief barrier to IoT adoption.
The feedback suggests many organizations are holding back on making IoT investments because they do not have a clear understanding about what they are trying to achieve.
In the meantime, smart connected data-driven offerings and operations are changing business models, the nature of customer value, and even the basis for competition. Businesses and industries are being disrupted and transformed at an accelerating pace.
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