The whole world is now digitally enabled. There are billions of physical things that are now connected to the internet. These things help to collect and share the data. These internet of things devices makes the world smarter, more responsive, and helps to merge the Digital and Physical universes. Earlier, a consumer’s behaviour and reactions towards a new product or service would be analysed through a concentrated group study. Once that sample study is collected, it would determine the faith of that product or service in the business.
Now, a concept like the Internet of Behaviours emerges, which uses data from IoT devices and behavioural science to understand and influence people’s mindsets toward their products and services.
What is the Internet of Behaviour (IoB)?
Internet of Behaviour (IoB) is an extension of the Internet of Things (IoT); where IoT works with data, information, and how different devices connect with one another. IoB also works with the same parameters, adding user behaviour into the mix to understand how certain patterns and impressions can be used to drive behaviours. IoB is a perfect amalgamation of the internet of things, edge analytics and behavioural science.
User’s behaviour data collected and processed by IoT devices are then linked with the applications so that users are only recommended basis their choice of output. Pretty soon, IoB technologies will also be used to deliver users a better quality of life. IoB aims to properly understand and apply data to create and promote products. The information is used to create new approaches to enhance user experiences, optimize the search experience, and promote companies’ goods and services.
“The Internet of Behavior collects the digital dust of people’s lives from a variety of sources, and public or private organizations can use this information to influence behaviour” – Gartner
To further understand IoB, let’s take a simple example of a smartwatch. Previously, the smartwatch was limited to giving you information about your heart rate, step counts, sleep time, etc. Now, the same device will monitor your heart rate continuously and immediately warn you when your heartbeat goes abnormal. It will also tell you to follow a specific activity to reduce your increased heart rate and will guide you on improving your sleep quality, and things that you really care about. Here your smartwatch has used your behaviour patterns to suggest things that may improve your wellbeing.
And this is just one of the examples. There are numerous applications of IoB in tandem with IoT across industries, not to mention in our daily lives.
Value IoB brings to Businesses
Businesses today need to adopt agile technologies like IoT and IoB to succeed in this competitive market. By analyzing customer behaviour, IoB can help in identifying the key influencing factors of a customer’s buying process. IoB provides additional benefits such as a better understanding of how users interact with products, gaining greater insight into shopping patterns, providing real-time assistance, and communicating with customers in ways that were previously not possible. Furthermore, the IoB concept revolves around proper behavioural data analysis and understanding, as well as the desire to apply that enhanced knowledge to create and promote customized products and services that will be of greater value to consumers’ satisfaction and businesses’ sales outcome. Applying IoB technologies will help many businesses utilize online advertising to reach more customers. With the Internet of Behavior, companies can easily identify and target specific individuals or groups to sell their services and products. Internet of behaviour needs four parameters to work:
- Data: To track better
- Information: To observe the behaviour
- Knowledge: To Target individuals
- Wisdom: To provide better at the end
Internet of Behaviour (IoB) workflow
The benefits of IoB
Using data analysis, information can be accessed from multiple points of contact. This makes it possible to explore the customer experience from start to finish, to know where the customer’s interest in a product begins, their journey to purchase and the methodology used to make the purchase. This provides the ability to create more touchpoints to positively engage with the consumer. This personalisation is key to the efficiency of service. The more efficient service is, the more the user will continue to interact and even alter their behaviour as a result.
Advantages of the Internet of Behaviors are:
- Track and analyse customer buying habits across different platforms.
- Helps businesses resolve issues in closing more sales and keep their customers highly satisfied.
- Provide a better customer experience due to personalized targeting of the product and services
- Helps to engage with customers in real-time
- Study unobtainable data about how customers interact with services, goods, and devices
- Improve monitoring of public safety. For example, vehicle telematics can be deployed to track driver behaviour and flag any activities that are dangerous
- Replace multiple customer surveys, which are time-consuming for both customers and businesses
- Provide enough data for market research
Applications of IoB
Let’s take a look at how the internet of behaviour is applied these days:
- GPS data of smartphones allows you to track a person’s geographical position, so the system understands whether you have visited a supermarket or a beauty salon, as well as the length of your stay. This is how Uber uses IoT data to analyze its audience’s preferences and find new approaches to customers. Today, Big brands know almost everything about consumers, from interests to the logic that customers use when making purchases.
- In 2018, the facial recognition system was successfully integrated into the development of Directrix Barista for coffee houses. As a result, the product determines sex, age, and mood. It analyzes the results and offers the client an appropriate drink. The same system can be used in stores for personalised advertising.
- In China, with the help of artificial intelligence and, in particular, face recognition, a social credit score system in the country was introduced. It was introduced to ensure security and track the loyalty of people to the current regime.
Future of IoB
As is the case with anything digital, there are always concerns about data falling into the wrong hands. With this increased use of behavioural data, the concern is that it could allow cybercriminals to take phishing scams to a whole new level. In addition to this, fears exist around the ethics of using technology to reward or punish certain behaviours. Some of the challenges faced by IoB are:
- The privacy concerns over the use of customer data
- The difficulty in convincing users to share data
- Vulnerable to cyberattacks
- Manipulation by negative factors (profit/control)
Whatever perspectives are on IoT and IoB, experts predict that they will continue to grow and influence in the near future.
“By 2023, individual activities will be tracked digitally by ‘Internet of Behavior’ to influence benefit and service eligibility for 40% of people worldwide.” – Gartner
According to Gartner, by the end of 2025, more than half of the world’s population will be subject to at least one IoB program, whether from a commercial or governmental source. IoB, like other technology trends such as AI and machine learning, is likely to spark significant debate about the ethics vs. positive applications of this technology.
Wrapping Up…
Like the internet of things (IoT), the internet of behaviour (IoB) may also turn out as a life-changing thing for people. IoB has its pros and cons, just like any other technological concept but it can refine the lives of consumers, upgrade businesses, and assist governments to determine threats. In a few years, IoB will become an ecosystem that will define human behaviour in the digital world.
IoT-harvested data leveraged with IoB technology can be used to sell, but it’s not all targeted advertising. Organisations will be able to test, for example, the efficiency of their campaigns, both commercial and non-profit. Also, healthcare providers can measure patient activation and engagement efforts. In conclusion, its catalogue of applications is already extensive, but it will continue to expand as it becomes established in society.
Any company that implements an IoB strategy must have strong cybersecurity in place to protect all of that sensitive data. It is a revolution in the technical sense. With the right set of hands and proper data protection laws, it shall play an important role in the near future.
The whole world is now digitally enabled. There are billions of physical things that are now connected to the internet. These things help to collect and share the data. These internet of things devices makes the world smarter, more responsive, and helps to merge the Digital and Physical universes. Earlier, a consumer’s behaviour and reactions towards a new product or service would be analysed through a concentrated group study. Once that sample study is collected, it would determine the faith of that product or service in the business.
Now, a concept like the Internet of Behaviours emerges, which uses data from IoT devices and behavioural science to understand and influence people’s mindsets toward their products and services.
What is the Internet of Behaviour (IoB)?
Internet of Behaviour (IoB) is an extension of the Internet of Things (IoT); where IoT works with data, information, and how different devices connect with one another. IoB also works with the same parameters, adding user behaviour into the mix to understand how certain patterns and impressions can be used to drive behaviours. IoB is a perfect amalgamation of the internet of things, edge analytics and behavioural science.
User’s behaviour data collected and processed by IoT devices are then linked with the applications so that users are only recommended basis their choice of output. Pretty soon, IoB technologies will also be used to deliver users a better quality of life. IoB aims to properly understand and apply data to create and promote products. The information is used to create new approaches to enhance user experiences, optimize the search experience, and promote companies’ goods and services.
“The Internet of Behavior collects the digital dust of people’s lives from a variety of sources, and public or private organizations can use this information to influence behaviour” – Gartner
To further understand IoB, let’s take a simple example of a smartwatch. Previously, the smartwatch was limited to giving you information about your heart rate, step counts, sleep time, etc. Now, the same device will monitor your heart rate continuously and immediately warn you when your heartbeat goes abnormal. It will also tell you to follow a specific activity to reduce your increased heart rate and will guide you on improving your sleep quality, and things that you really care about. Here your smartwatch has used your behaviour patterns to suggest things that may improve your wellbeing.
And this is just one of the examples. There are numerous applications of IoB in tandem with IoT across industries, not to mention in our daily lives.
Value IoB brings to Businesses
Businesses today need to adopt agile technologies like IoT and IoB to succeed in this competitive market. By analyzing customer behaviour, IoB can help in identifying the key influencing factors of a customer’s buying process. IoB provides additional benefits such as a better understanding of how users interact with products, gaining greater insight into shopping patterns, providing real-time assistance, and communicating with customers in ways that were previously not possible. Furthermore, the IoB concept revolves around proper behavioural data analysis and understanding, as well as the desire to apply that enhanced knowledge to create and promote customized products and services that will be of greater value to consumers’ satisfaction and businesses’ sales outcome. Applying IoB technologies will help many businesses utilize online advertising to reach more customers. With the Internet of Behavior, companies can easily identify and target specific individuals or groups to sell their services and products. Internet of behaviour needs four parameters to work:
- Data: To track better
- Information: To observe the behaviour
- Knowledge: To Target individuals
- Wisdom: To provide better at the end
Internet of Behaviour (IoB) workflow
The benefits of IoB
Using data analysis, information can be accessed from multiple points of contact. This makes it possible to explore the customer experience from start to finish, to know where the customer’s interest in a product begins, their journey to purchase and the methodology used to make the purchase. This provides the ability to create more touchpoints to positively engage with the consumer. This personalisation is key to the efficiency of service. The more efficient service is, the more the user will continue to interact and even alter their behaviour as a result.
Advantages of the Internet of Behaviors are:
- Track and analyse customer buying habits across different platforms.
- Helps businesses resolve issues in closing more sales and keep their customers highly satisfied.
- Provide a better customer experience due to personalized targeting of the product and services
- Helps to engage with customers in real-time
- Study unobtainable data about how customers interact with services, goods, and devices
- Improve monitoring of public safety. For example, vehicle telematics can be deployed to track driver behaviour and flag any activities that are dangerous
- Replace multiple customer surveys, which are time-consuming for both customers and businesses
- Provide enough data for market research
Applications of IoB
Let’s take a look at how the internet of behaviour is applied these days:
- GPS data of smartphones allows you to track a person’s geographical position, so the system understands whether you have visited a supermarket or a beauty salon, as well as the length of your stay. This is how Uber uses IoT data to analyze its audience’s preferences and find new approaches to customers. Today, Big brands know almost everything about consumers, from interests to the logic that customers use when making purchases.
- In 2018, the facial recognition system was successfully integrated into the development of Directrix Barista for coffee houses. As a result, the product determines sex, age, and mood. It analyzes the results and offers the client an appropriate drink. The same system can be used in stores for personalised advertising.
- In China, with the help of artificial intelligence and, in particular, face recognition, a social credit score system in the country was introduced. It was introduced to ensure security and track the loyalty of people to the current regime.
Future of IoB
As is the case with anything digital, there are always concerns about data falling into the wrong hands. With this increased use of behavioural data, the concern is that it could allow cybercriminals to take phishing scams to a whole new level. In addition to this, fears exist around the ethics of using technology to reward or punish certain behaviours. Some of the challenges faced by IoB are:
- The privacy concerns over the use of customer data
- The difficulty in convincing users to share data
- Vulnerable to cyberattacks
- Manipulation by negative factors (profit/control)
Whatever perspectives are on IoT and IoB, experts predict that they will continue to grow and influence in the near future.
“By 2023, individual activities will be tracked digitally by ‘Internet of Behavior’ to influence benefit and service eligibility for 40% of people worldwide.” – Gartner
According to Gartner, by the end of 2025, more than half of the world’s population will be subject to at least one IoB program, whether from a commercial or governmental source. IoB, like other technology trends such as AI and machine learning, is likely to spark significant debate about the ethics vs. positive applications of this technology.
Wrapping Up…
Like the internet of things (IoT), the internet of behaviour (IoB) may also turn out as a life-changing thing for people. IoB has its pros and cons, just like any other technological concept but it can refine the lives of consumers, upgrade businesses, and assist governments to determine threats. In a few years, IoB will become an ecosystem that will define human behaviour in the digital world.
IoT-harvested data leveraged with IoB technology can be used to sell, but it’s not all targeted advertising. Organisations will be able to test, for example, the efficiency of their campaigns, both commercial and non-profit. Also, healthcare providers can measure patient activation and engagement efforts. In conclusion, its catalogue of applications is already extensive, but it will continue to expand as it becomes established in society.
Any company that implements an IoB strategy must have strong cybersecurity in place to protect all of that sensitive data. It is a revolution in the technical sense. With the right set of hands and proper data protection laws, it shall play an important role in the near future.
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