How Does the Internet of Behaviour Help Businesses

CIO Review Europe | Friday, September 24, 2021

It is predicted that by 2023 almost 40 percent of the global population’s activities will be tracked digitally which will be leveraged by public and private organizations to comprehend consumer behaviour patterns.

FREMONT, CA: The internet of behaviour (IoB) refers to the network of technologies or user devices that collect and analyse data and information about user behaviour. It can be considered as the combination of three fields – technology, data analytics, and behavioural science. From the technological aspect, data is extracted from wearable devices or connected smart devices, like smartphones, laptops, and cameras.  Data from the interconnected devices are then analysed to derive insights about the user’s interests and behaviour patterns leveraging data analytics. All these data are further studied using behavioural science theories to understand how human actions affect their emotions and interactions.

Notably, the IoB can be used as an effective marketing tool for businesses across the world today. Since marketing is all about understanding the customers, this technology can greatly help in garnering critical insights about consumer behaviour. In that regard, the IoB can indeed be considered as a tool that can accelerate the current developments in enhancing customer experience across the sector.

In addition to marketing, there are several other industry verticals that can benefit from this technology. For instance, in the manufacturing industry, the IoB can be used to track and monitor employees, wherein their productivity can be determined, in turn, reducing their idle time and unnecessary activities. Digital marketing is another area where the IoB can be influential.  Since data is key for digital marketing, access to the tools of behavioural analysis and interpretation can help in attaining better customer reach and implementing successful strategies and tactics. The research industry is also a sector that can benefit hugely from the IoB. The sheer volume of data produced in the domain can be used for observational research, customer research, product research, and experimental research.

Even though IoB comes with great advantages, it has some vulnerabilities that have to be checked. For instance, since the technology handles sensitive data, there are chances of data theft, identity theft, and even information leaks. That being said, the IoB is set to evolve as a life-changing technology. This technology can have a great impact on the future digital world.

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