Internet of Behavior: Phenomenon Empowering IoT and IoE
The acquisitive tech world was astonished and moved significantly when IoT made its advent. This specific world saw great transformations and transitions and led the world to see sci-fi flicks as emerging reality.
Undoubtedly, one can say that Machines became Smarter and Humans became More Privileged. Isn’t it?
With the tech industry making exponential progress every year, the Internet of Things, Brain-Computer Interface (BCI), Artificial General Intelligence, are amongst many significant concepts that tech-savvy people keep an eye upon.
Along with these revolving terms, the Internet of Behavior (IoB) joined the orbit, gained hype, and aroused new expectations among the masses.
Ever since the inception of the Internet, data acquired huge importance and became an essential aspect in identifying who uses the Internet, what they do, how they do, thus, defining their many different characteristics.
We are well aware of the term Internet of Things (IoT) and know-how crucial is data in the working and progression of IoT-enabled devices.
IoT is a source that makes devices smart and intelligent by connecting them with the Internet and IoB (Internet of Behavior) is a concept that provides valuable user insights
with respect to their behavior, patterns, interests, and preferences from the data used and collected by IoT devices.
Did you know?
Gartner predicted that IoB will leverage digitization to a monumental level and will become more a part of human life.
[Prefer Reading: “IoT Security Challenges to Overcome in 2021.”]
Internet of Behavior (IoB): Online Activities’ Data Converted to Profitable Useful Data
We know how imperative data is in today’s life and one can say that the technical world revolves around data to make its innovations successful and feasible. With facial recognition, big data, location tracking, voice search technologies already in use, businesses have started monitoring individual behavior.
IoT enables interconnected devices to gather and exchange information over the Internet and further IoB orchestrates this data, makes sense, and links it to distinct human behavior, thus, linking it with the digital actions taken by them.
“IoB enables us to deduce value judgments over behavioral events to create a desired state of behavior.”
In simple terms, if we need to grasp, it’s merely to make sense of human behavior through data mining, blending behavioral science, data analytics, and advanced technology and associate behavioral events like purchase, device usage, etc.
As we already have built an ecosystem of analytical processes that are automated to track, collect, synthesize, and interpret different kinds of data heaps, IoB addresses to understand deep data traits from a human psychology perspective and, thereby uses real data insights to influence behavior.
[Prefer Reading: “Business Intelligence: Transforming Data into Strategic Intelligence.”]
An IoB Real Life Use Case Scenario…
IoB aims to turn all the data collected from online activities of users into valuable information (treated with influential human behavior) that profits companies to emerge innovations.
Considering a user’s interaction from a web platform, there are possibilities of digital actions to be taken from a laptop or a smartphone or a tab anytime, anywhere. The data dynamics incurred relative to how a user interacts, with which resource, at what time, through which and how many button clicks, etc. differ in nature.
And such an approach, bolstered by Big Data Analytics, is helping businesses to overcome hurdles that came across the path of making a potential sale.
What next, once we have the data?
IoB plays its role next while analyzing the pieces of information deeply in the context of behavioral psychology and forms the basis for SXO (Search Experience Optimization), User Experience Development, and other major business service strategies.
Ultimately, IoB powered data would serve organizations with a myriad of benefits by:
- Analyzing and identifying user purchase patterns across platforms
- Rendering real point-of-sale notifications
- Studying previously unobtainable data about how customers interact with brand products/services
- Gaining deeper insights into where the customer is in the buying journey
- Resolving sales issues nimbly with strategic solutions and satisfying customers
- Analyzing past performance and predicting the future
The internet of behavior emerges as technology is able to capture and use the information generated by people in their daily lives.
Unlike the Internet of Things (IoT) or the Internet of Everything (IoE), which try to capture information in real time, the IoB opens a new opportunity to learn about user habits or behaviors, allowing organizations to gain insight very exhaustive of them and can, for example, customize the advertising content to the maximum.
[Prefer Reading: “Technological Trends to Lookout in 2021.”]
In a Crux
It is speculated that IoB will challenge “what it means to be human in the digital world”, it is in a transition stage, which goes from adopting technology to being owned by it.
The IoB combines existing technologies focused directly on the individual, big data, facial recognition, location tracking, financial information, health indicators, and others. This data is correlated with other events such as purchases, the standard of living, professional performance, and family roles.
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