The Briton has lost four finals in Melbourne - three to Serbia's Djokovic.
"You just have to keep trying to learn, watch his matches, see if there are any weaknesses you can capitalise on," said Murray, second in the ATP rankings.
"Maybe he has a drop-off. It's very difficult to maintain that level for such a long period."
Murray, 28, lost the 2010 final to Roger Federer, before suffering defeat by Djokovic in 2011, 2013 and 2015.
The Serb, also 28, holds three of the four Grand Slam titles, having won Wimbledon and the US Open in addition to the Australian Open.
He prepared for the first major of the season, which runs from January 18 to 31, by beating Rafael Nadal in straight sets to win the Qatar Open last week.
Murray has indicated he will leave Melbourne to return home if his wife Kim goes into labour early with their first baby, who is due in mid-February.
He said, though, that his priorities on the court are to win the Australian Open and to defend his Olympic title in Rio later this year.
"I've been close many times and that's my number one goal," he said.
"I won the gold in London four years ago so to try to defend that is another big goal for me. They would be the two main ones for me."
Andy Murray says he may need number one Novak Djokovic's form to dip to have a chance of victory in the Australian Open, which starts next week.