Recently, IoB has gained attention, with Gartner nominating it among the world’s largest strategic technology trends for 2021. “The Internet of Behavior captures the ‘digital dust’ of people’s lives from various sources, and that information can be used. To influence behavior by public or private entities,” according to the research firm.
Gartner also predicted that by 2023, the behavior of 40 percent of people globally would be tracked through IoB and by the end of 2025, more than half of the world’s population had at least one IoB. Will be subject to Program, be it commercial or government.
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What is Internet of Behavior (IoB)?
IoB aims to capture, analyze, understand and respond to all types of human behaviors that allow people to track and interpret those behaviors using emerging technological innovations and developments in machine learning algorithms.
People’s behavior is monitored and incentives or disincentives are applied to influence them to perform towards the desired set of operational standards. What is really relevant about IoB is that it is not only descriptive but also proactive.
IoB affects consumer choice but also reshapes the value chain. While some users are wary of providing their data, many others are happy to do so as long as it adds value-data-driven value.
For companies, this means being able to change their image, market products more effectively for their customers, or improve the customer experience (CX) of a product or service. Hypnotically, information can be collected on all aspects of the user’s life, with the ultimate goal of improving efficiency and quality.
Is Internet of Behavior (IoB) Same as Internet of Things (IoT)?
Companies using IoT to change our behavior are not really about “things” at all. Since IoT connects people with their actions, we have entered the Internet of behavior. Consider IoB a combination of three areas:
- Data analysis
- behavioral science
As companies learn more about us (IoT), they can affect our behavior (IoB). Consider a health app on your smartphone that tracks your diet, sleep patterns, heart rate, or blood sugar levels. The app can alert you to adverse situations and suggest behavioral modifications for a more positive or desired outcome.
For now, companies mostly use IoT and IoB to try to see and change our behavior to achieve their desired goal – usually for shopping. Marketers and behavioral scientists agree that this personalization is the key to the effectiveness of a service.
The more effective service is, the more the customer stays connected to it and even changes its behavior because of it. Realizing that this personalization gives us value, customers can still avoid it because it sounds scary. This psychological disturbance can cause us to avoid it, a tendency known as the ostrich effect.
What is The Future Value Internet of Behavior (IoB)?
IoB can become the ultimate marketing and sales weapon in the hands of businesses and organizations around the world. This can give them a deeper, personal understanding of their customers for what they are striving for.
The analytics and all the beautiful things that companies are using for the better part of this decade are all running a rat in the mapping of the right user journey. Here’s how the Internet of Behavior is missing that will push them into line.
This will not only give companies insight into past performance, but it will also allow them to forecast future behavior. The data collected from IoT will be the foundation on which companies will be able to plan their development, marketing, and sales efforts.
What are the Advantages of Internet of Behavior (IoB)?
This emerging technology is going to prove beneficial in many ways. From positively engaging customers, knowing where a customer’s interest in a product begins, their shopping journey, and what method they use to make their purchase; There are many aspects of IoB.
IoB makes it easy to study previously inaccessible data to get more detailed information about how users interact with devices and products, where the customer is in the shopping process, and analyze customer shopping habits on all platforms Does.
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In addition, it provides real-time notifications, quickly closes sales and targets, and resolves problems to keep customers satisfied. Companies are currently using IoB to help us change our behavior to achieve desired goals by selling our products/services.
The Internet of Behavior provides companies with state-of-the-art ways to influence user and employee behavior, as well as marketing products and services. It can be used to monitor health protocol compliance at an industrial site to capture behavioral incidents.
How Internet of Behavior (IoB) Helps in Covid-19 Pandemic?
The epidemic has made us more aware of the security measures to be taken during this time. With the help of sensors or RFID tags, employers can determine whether there are any discrepancies in following the security protocol. Actually, restaurants and food delivery apps use information about the protocol and then push their plans forward.
For example, Swiggy and Zomato both displayed and exposed the security measures taken by the restaurant. They also tracked and displayed the delivery person’s temperature to assure customers that they were safe.
Like the Internet of Things (IoT), the Internet of Behavior (IoB) can also become a life-changing thing for people. IoB has the potential to open new frontiers of technology. IoB is currently in its infancy, but according to Gartner, by the year 2025, IoB will become prevalent in half the world’s population.
Recent growth in IoT devices is also indicating the same. IoB has come with great enthusiasm to bring innovation and change to the technological world, so you need to prepare yourself for the digital future. For example, sensor / RFID tags can be used in an individual or environment to check whether employees are regularly washing hands.
Similarly, computer vision can be used to determine whether employees are following the masking protocol. In addition, speakers in the environment can be used to warn people of protocol violations.