An Introduction to the Internet of Behaviors (IoB)
Aug 22, 2022by, Maheswari C.S
Have you ever bought a chair from Pepperfry.com only to be later bombarded with more furniture recommendations and advertisements online? This is a typical situation for a modern internet user. How about the time you were casually liking photographs of, say, shoes on Instagram and then saw advertisements from Nike or Woodland?
In that case, you are already familiar with the concept of the Internet of Behaviors or IoB.
The Internet of Behaviors (IoB) is an extension of the Internet of Things or IoT, which collects user-related data from a variety of sources and analyzes it from a behavioural perspective. This information can then be used for the benefit of the public or private parties that collect them. Though using consumer data for business analytics is nothing new, IoB gives it a new dimension altogether using Technology, Data Analytics, and Behavioral Sciences.
For instance, let us imagine a user named Anna on Instagram. Anna uses Instagram around the same time every day. In the morning when she wakes up, at around 11.00 A.M. when she takes a break from work, in the evening while travelling back, and at night before she goes to bed. You can clearly see that a behaviour pattern is formed. Using IoB Instagram can calculate the amount of time Anna spends on the platform to provide more related content to keep her active as much as possible. Not only that, but it can also give information regarding the amount of time Anna spends on each content specifically. If she mostly likes pictures related to clothes, this information can be provided to clothing brands. Anna’s comment regarding a new Instagram purchase can be utilized by that brand. All activities she does on various other digital platforms can also be analyzed to identify a habit under the context of behaviour psychology. Social media is not the only platform from which IoB gathers information. It can gather, analyze, and combine data from various sources such as wearable technology, personal internet activities, and domestic electrical gadgets, which can reveal important details about user behaviour and interests. Website user data, citizen data handled by government agencies, location tracking, etc. are some other sources of information.
IoB offers other advantages like a better understanding of how consumers engage with items, and their buying habits, giving real-time assistance, and enhancing communication with customers. The IoB concept also aims to use behavioural analysis to develop and market personalized goods and services that will be more valuable to customers and enterprises. For instance, Uber’s IoT application monitors both drivers and passengers. After each trip, a survey is taken to gauge passengers’ overall satisfaction. However, with IoB this data can be gathered without the need for a survey. To go a step further, it is possible to track the driver’s conduct and then analyze the passenger experience to automatically respond to feedback.
The social credit system in China is the best example of how IoB can be used by the government. The Chinese government keeps track of its residents’ online actions and assigns them a score based on which they receive advantages from the government. According to Gartner, a technology research and consultancy group, the Internet of Behaviors will have been used to track the behaviour of approximately 40% of individuals worldwide by 2023. They also state that by the end of 2025, half of the world will be subjected to at least one IoB device, either by a commercial or governmental source.
Let us see some ways IoB can be used in a business environment.
With the help of IoB, businesses can identify and target particular people or groups who can use their services and products. Digital marketing companies may redesign the value chain and analyze customer buying trends across platforms. They can also get an insight into the direction that their product can take and tweak them according to consumer needs. As seen above in the example of Uber, IoB can help replace several customer surveys which take up time for both customers and businesses. Additionally, they help resolve issues as well as ensure customer satisfaction. With IoB, one can access previously inaccessible data on how potential clients interact with your company, products, and services. You can also get to know where your clients are shopping so that you can provide real-time information about any new offers, points of sale, or even targeted advertisements.
IoB is crucial as a marketing tool. It can help provide the right type of ad for the right kind of audience. They can provide the necessary information needed to run an ad campaign as well as analyze customer engagement with this ad campaign. Through IoB businesses can monitor website traffic and also get an idea regarding the kind of content their audience demands. Companies like Facebook and Google use user activity data to present adverts to people in an appropriate manner. Businesses can use this to engage with their potential customers and monitor how they respond to their adverts by looking at the click-through rate. YouTube also uses behavioral analytics to enhance the viewing experience for its users. Another use case scenario is the recommendation of films and shows based on user browsing history and other behavioral data.
Another use case of IoB is to utilize it within organizations to maximize employee participation. Online employee participation tools can be used to highlight and report employee progress by analyzing activity over email, digital workspace, chat rooms, etc. This information can be made use of during employee appraisals and can boost healthy competition to ensure maximum productivity. Based on this data, necessary training and other comprehensive facilities can be provided to employees without the need for direct communication. Sensors and RFID tags are already being used in the manufacturing sector to monitor how frequently on-site workers wash their hands. IoB is extremely beneficial for healthcare professionals to monitor their patients’ engagement.
Like any other technology IoB has advantages and disadvantages, but it is an effective tool to improve customer engagement, benefit businesses for profit, and provide local government services for the citizens. A company that looks forward to implementing an IoB strategy needs to have strong cybersecurity in order to protect all of the sensitive data from the user. At Dexlock, we prioritize providing the best business intelligence tools to our clients. Our team of qualified specialists uses cutting-edge technologies to work with futurist thinkers, ensuring those who trust us, are only the best.If you have any projects regarding the above, click here.
Disclaimer: The opinions expressed in this article are those of the author(s) and do not necessarily reflect the positions of Dexlock.