The Internet of Things (IoT) is taking the world by storm. Today, the world relies on the Internet, which allows people to interact with each other every day by sending and receiving data through computing devices. The data collected from these IoT devices provides crucial information about its user’s behavior. As a result, the Internet of Behavior (IoB) era has begun.
What is the Internet of Behavior (IoB)?
As the IoT links people with their actions, the IoB turns their actions into knowledge. Colan InfoTech defines the Internet of Behavior as, “a process by which user data is analyzed from a behavioral psychological perspective, and the results of that analysis then convey new approaches to search experience optimization, user experiences, final products and services afforded by organizations.” By using the IoB, it allows businesses to gain a deeper understanding of their customers’ interests to which they can tailor their marketing efforts around. Sounds great, right?
What are the business benefits of the Internet of Behavior?
- Powerful Digital Marketing: Businesses can use the data and information obtained from the Internet of Things (IoT) and apply advanced marketing research to aid themselves in customizing service offerings for their target audience.
- Emerging Sales Tool: Businesses are increasingly measuring the engagement of customers and their habits to determine how to make a sale as quickly and as often as possible.
Is there a downside?
Today, data is more valuable than ever before, and it’s easily accessible to companies, so is it wrong for them to use the information they gather to attract and retain customers?
Maybe. The real question is, how concerned are you about security and privacy?
There is a lack of structure and legality around the Internet of Things. It doesn’t gather your data from only the website you’re on. It gathers your data from multiple websites and apps, and can include your social profiles. “For instance, a car insurance company can look at a summary of your driving history. As a society, we’ve decided this is fair. But the insurers might also scour your social media profiles and interactions to “predict” whether you’re a safe driver - a questionable and extralegal move,” explains bmc.
As the IoT leads into the IoB, it demands changes in legal and cultural norms. Not only is your personal data scanned, the ads being tailored to you will change little by little to draw your attention to new things you hadn’t thought you wanted or needed before.
With technology constantly advancing, the world is advancing with it. There are pros and cons, some obvious and some left up for you to decide. The Internet of Behavior is just the start.