Identified by Gartner as one of the Top Strategic Technology Trends for 2021, the internet of behaviors is building off IoT-generated data to provide actionable insights.
You may not realize it, but every time you send an email or create a presentation, you’re generating data. This content coupled with metadata (the information about a created file) make up human-generated big data. And while a huge amount of data has been created since humans have started working closely with technology, organizations have not had the tools needed to analyze this data and mine it for insights.
Enter the Internet of Behaviors (IoB), which was named by Garter as one the top strategic technology trends that organizations need to explore in 2021. As people centricity becomes more and more important due to coronavirus, organizations need to start paying attention to IoB and how they can use its insights to interact with their employees.
What other trends should businesses pay attention to this year? Get insights here!
What is the Internet of Behaviors?
Gartner initially announced that the Internet of Behaviors can be defined as the collection and use of data to drive behaviors. Following the lead of behavioral science, a field which seeks to generalize and study human behaviors in society, the term was actually first coined by a psychology professor named Gote Nyman. It builds on the Internet of Things (IoT’s) capabilities to produce detailed use and behavioral data gathered – and crunched – to produce a detailed picture of the customer. Further, as organizations improve not only the amount of data they capture, but also how they combine data from different sources and use that data, the IoB will continue to affect how organizations interact with people.
In theory, IoB could reveal crucial insights to organizations that allow them to increase productivity, monitor compliance with COVID-19 safety protocols, and more. At the same time, the collection of behavioral events data can be problematic. The IoB raises questions about how we gather, navigate, and use data, especially as we collect more of it. Something as commonplace as a smartphone can be used to track your online movements AND your real-life geographic position. Now, companies know your interests, dislikes, and the way you purchase.
Further, cybercriminals can hack sensitive data that reveals customer behavior patterns. This information could be stolen and sold to other criminals seeking data like property access codes, delivery routes, and even bank access codes.
While IoB is an important trend for companies to take notice of, organizations need to be vigilant in the ways they are protecting the data they collect.
How Can the IoB Benefit Businesses?
According to Gartner, 40 percent of people globally (more than three billion people) will have their behavior tracked through the IoB by 2023. Further, by the end of 2025, more than half of the world’s population will be subject to at least one IoB program, whether it be commercial or governmental.
Like it or not, connected data is already being used to influence people’s lives and decision-making.
The following are ways your business can start leveraging IoB to better serve your clients and employees:
1. Market products more effectively to customers
Many digital marketing agencies have already been using analytics tools to find insights that reveal common consumer behaviors. With the IoB, marketers are able to analyze customer buying habits across platforms, gain access to previously unattainable data and redefine the value chain, and even provide real-time point-of-sale notifications and targeted ads.
2. Improve user experience
Designing UX is a crucial part of sales. With the knowledge provided by IoB, organizations have a better understanding of people’s attitudes toward specific products or services, making it even easier to resolve customer concerns.
3. Enhance public health
Companies in the manufacturing sector are already using sensors and RFID tags to determine if on-site employees are washing their hands regularly. Further, computer vision can determine if employees are complying with mask protocol or social distancing directives. And in the health industry, providers can measure the activation and engagement efforts made by patients.
4. Improve public safety
The monitoring of public safety is creating exciting new opportunities across industries. In one application, vehicle telematics is deployed to track driver behavior and flagging behaviors that are erratic or dangerous.
When it comes to digital marketing, you need to predict customer behavior before it happens. Check out our solutions here!
Stefanini is Leveraging the IoB for Everyday Solutions
In multiple industries, Stefanini is using data collected from IoT devices to help businesses better connect with their employees and their customers.
With decades of technological and domain experience, we transform your enterprise with unparalleled integration, digital expertise, and a big-picture vision. You need to know how to use data efficiently. We employ sensors that feed data analytics and IoT platforms, which we then connect with applications and process systems for full end-to-end enterprise intelligence.
Further, we integrate the data from IoT-connected devices with automation and artificial intelligence to transform the way we work. Our solutions allow you to meet the customized demands of your customers. Our automation and A.I. solutions support scalable personalized offerings.
Ready to start leveraging your business’ data effectively? We’re here to help. Connect with us today!