A principal target for the evolution Technology advancements in many areas make it possible to build devices that were not possible 20, 10, or even 5 years ago. Even though Moore’s laws is not a law of physics, it gives an indication of the rapid technology evolution for integrated circuits. This evolution enables faster processing/computing and more memory in smaller devices at lower cost. Similarly, the rapid development of color touch-screens, small digital cameras, etc. makes it possible to envisage services to a device that were seen as utopian 10 years ago.
The infusion of IoT is helping humans get various jobs done with just a click. Thanks to our smartphones and advancements in Internet connectivity around the world that is connecting more and more people to the Internet and to everything and everyone around us.
The Internet of Things (IoT) is a network of interconnected physical objects that collect and exchange information and data over the Internet. The IoT is constantly expanding and evolving in the scope of its complexity, i.e. the way in which devices are interlinked, the computations that can be processed by these objects autonomously and the data that is stored in the cloud evolve in a more complex way.
This has paved the way for a new technology that is named IoB (Internet of Behavior).
Internet of Behavior: The Extension of IoT
The Internet of Things (IoT) is defined as a source connecting an electric device to the Internet, and IoB (Internet of Behavior) is the extension of IoT that reveals significant information about our behavior. It is the interconnection of devices that provides vast data and valuable insights into user experience, search experience optimization, behavior, interests, and preferences.
The Internet of Behavior combines existing technologies that focus on the individuals directly. From facial recognition to location tracking, it connects the resulting data to associated behavioral events like cash purchases or device usage. Understanding the data collected from users’ online activity from a behavioral psychology perspective is what exactly IoB does! How to understand the data and how to apply that understanding to create and market new products from a human psychology perspective, all come under IoB.
Importance of Internet of Behavior
The internet of behavior emergence is providing everyone more opportunities to collect data and analyze it.
It can ensure that businesses continue their growth in the significant upheaval face related to the current pandemic and changing climate of the world’s economy.
However, the main purpose of the Internet of Behavior is to collect, analyze, respond and understand all types of behaviors to improve customer/user experience. Other than that, behavioral data is also helping businesses to make more informed decisions and improve their service quality and value chain in the best possible way.
Overall, psychology and marketing go side by side from the beginning of advertising. This way, businesses can get new insights into the data that’s collected by IoT.
The IoB has become a new yet powerful tool for businesses’ sales and marketing worldwide. With this, businesses can get a deep understanding of their customers to keep them more satisfied.
In short, the Internet of Behavior is here to generate a significant boost in the sales industry development.
The Benefits of IoB
Do you want to know how the Internet of Behavior can benefit you? Then here are some specific benefits of IoB that you must know.
The following are some of the Benefits of IoB:
- IoB can help businesses resolve issues in closing more sales and keep their customers highly satisfied.
- It can even help you to replace multiple customer surveys, which are time-consuming for both customers and businesses.
- IoB can let you analyze the behavior of your prospects and their buying habits across different platforms.
- Examine data about how people engage with gadgets and goods that were previously unavailable.
- Even more, the latest technologies such as Siri, Google Home, and Alexa also study and interpret the data and behavior of the user to work more efficiently.
Undoubtedly, A/B testing, SWOT analysis and many other techniques have helped companies for years to build their product and marketing strategies to create and promote that users would want to buy. The IoB will take this trend to the next level, and is set to generate considerable momentum in the development of the sales industry. According to Gatner, the technology may still be in its early days, but by the end of 2025, more than 50% of the world’s population will be exposed to at least one IoB programme, either from the government or a private company. It will be the ecosystem that defines human behaviour in an increasingly digital world.
The Internet of Behaviors offers businesses cutting-edge methods for marketing products and services as well as influencing user and employee behaviour. This technology is highly useful to organizations since it allows them to optimize their customer relationships depending on the data acquired.
Behavioral data technology is still developing. However, as new IoT devices proliferate, the argument over what constitutes critical data and ethical use is only beginning.
Make the best business decisions Adopting IoB an Extension of IoT
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