The Internet of Behavior (IoB) builds on the Internet of Things (IoT), which connects devices to create a plethora of new data sources. Through feedback loops, this combines data from both the digital and physical worlds to impact actions and behaviors. The Internet of Things makes sense of this data and associates it with specific human actions like purchasing or following a certain brand online. On the other hand, IoB cannot be discussed without mentioning IoT. The Internet of Things (IoT) is a network of physical objects that connect to the Internet to collect and share data and information. The IoT’s complexity is always growing and changing, including the way devices are connected, the computations that these objects can perform on their own, and the data that is stored in the cloud. The Internet of Behaviour refers to the collection of data (BI, Big Data, CDPs, and so on) that provides valuable insight into customer behaviors, interests, and preferences (IoB).
(Note: IoB is the combination of 3 Fields; Technology, Data Analytics, and Behavior Science)
IoB Advantages
Some of the advantages of IoB are as follows:
- Analyze client buying behavior across many platforms.
- Examine data on how individuals interact with previously inaccessible technology and items.
- Obtain more detailed information about a customer’s purchasing step.
- Targeting and real-time POS notifications are offered.
- By quickly resolving customer complaints, you may close deals and keep customers happy.
IoB’s Operation
- What Methods Are Used to Collect Data?
Consumer data can be collected from a variety of sources, including a company’s website, social media profiles, sensors, telematics, beacons, health monitors (such as Fitbit), and other devices. Each of these websites collects various types of data. A website, for example, may keep track of how many times a user views a particular page or how long they stay on it. Telematics can also monitor how hard a vehicle’s driver brakes or the vehicle’s average speed.
- What Happens to the Data Collected?
Businesses acquire and analyze data for a variety of reasons. These include, among other things, aiding firms in making informed business decisions, adapting marketing strategies, producing products and services, and driving user experience design. Companies set guidelines to help with data analysis. When a user does a specified action(s), the company attempts to persuade them to change their behavior.
- Using Information from a Wide Range of Sources
Another aspect of the Internet of Behaviors is combining data from various sources and evaluating it to make a choice. By collecting data from a variety of sources, businesses may create in-depth user profiles for each user. These profiles can then be examined to determine the best course of action for the individual.
More about IoB
Data analytics and behavioral science are combined in this data mining. Location, facial recognition, and other devices can essentially serve as guides for mapping client behavior. IoB can be utilized as the ultimate marketing and sales tool to gain a comprehensive, individualized understanding of the clients you’ve been after.
In the hands of businesses, the Internet of Things is a great tool, but it also opens Pandora’s box in terms of policing and sharing personal data. Hackers will be able to steal information, and phishing attempts will increase as a result. As more people join the IoB loop, they will become more vulnerable to online scams. For cybercriminals, the larger the network and the more detailed the data, the more lucrative it is.
Due to the needs of the time, IoB will continue to flourish and develop into the ecosystem that characterizes human behavior in the digital world. However, thieves will be able to obtain sensitive data that discloses customer activity patterns and personal information as a result of this. This will be a challenge for web developers to step up and create safer software to use.
