Have you heard of the internet of things before? Internet of things is used to describe the physical systems of interrelated devices that are digital machines, or organisms and objects that are equipped with digital machines such as sensors, software, or monitors that can transfer data without any human interference or connection. In simple words, it is the technology that allows the gathering of information from various sources, including animals.
Some of the internets of things examples include ultra-high-speed internets such as Unifi fibre coverage, or health wear monitors, cybersecurity scanners, surveillance equipment, and many more. Big tech companies have made their investment into the internet of things since its beginning and they revolutionized it, despite how intrusive it came across to the rest of the world. Internet of things made our lives more connected and convenient. We never realized how the likes of Unifi Malaysia or other high-speed internet providers and software developers actually use our data to their advantage.
Another clear example of how the internet of things evolved is by DASH, a free mobile application that receives data from sensors to inform those responsible about a vehicle’s current status such as speeding status, any maintenance requirement, and so on. Similarly, Zubie made equipment tracking simple and efficient. Zubie offered the community a real-time GPS fleet tracking service that also monitors the health and performance of the driver. The parental function of their technology allows parents to receive information that could possibly prevent fatal accidents.
Now, as of 2021, we are transitioning from the internet of things to the internet of behavior. Internet of behavior is an extension of the already existing internet of things. Rather than insights from digital machines, the internet of behavior focuses on data obtained from humans themselves.
Internet of behavior is the act of obtaining data and insights to drive behavior. Internet of behavior gives technological companies to combine the aspect of psychology with data. Today the studies of the human psyche in driving technology are more relevant than ever. Internet of behavior provides impeccable and valuable information on customer’s behavior and this information can be used to understand how it can benefit society or a company.
Importance Of Internet Of Behavior (IoB)
We have far long understood the importance of consumer behavior in the world of business. Analyzing and capturing data from behavior is how marketing and sales thrive. They use these valuable insights to launch campaigns and drive product value. Internet of behavior is a huge game changer for many marketing teams. It is sought out by major companies such as Google, Microsoft, Apple to drive customers. They manage their competitive edge by reading into exactly what motivates a consumer’s online activities and behaviors.
Not only companies but politicians and huge corporations have also long gained an edge from this sort of behavioral information. Politicians use it to increase their favorability while corporations use it to alter the behavior of their employees to increase efficiency and production.
Internet of behavior has such importance because of its ability to influence a customer’s choice. Our preferences and motivation towards them can be changed as a result of IoB. When companies understand what triggers a behavior, or what drives the motivation toward the online purchase, it becomes a weapon to be utilized. Companies use incentives and boosters to drive these desired behaviors among consumers. The algorithm on social media and search engines also changes based on our actions.
Internet of behavior not only helps companies analyze a customer’s buying process and motivations in purchasing journey. It also helps them gain valuable insights on what they should spend their big bucks on. Many companies spend their time and money on experimenting with various methods to increase awareness and drive actions. However, in this day and age, technology made it easier for us to show what genuinely works and what does not. When we continually work according to what the data suggests, we are guaranteed some deliverable that benefits the company. So why not save our energy and money by investing in technology that will help us analyze behaviors.
Internet of behavior can come across as extremely intrusive. And people are acutely aware of how many use our online behavior. We know that we are being monitored every time we give out or email or sign up for new letters. We also know that every time we download a fitness tracker every viable information is now under them. However, most of us really don’t care despite a bunch of strangers having our valuable information. The secret behind this complete laidback-ness is that we as consumers have high expectations. We crave data-driven value. And that is exactly what IoB provides company. The data-driven value is useful in improving the services and products. If Apple continues to use our data but never improves its services and innovates, we will be deeply disappointed. They will not only lose customers but they also lose the trust if they choose not to utilize the data we provide them with. Or rather the data they took from us.
Customers not only expect good products and innovation now. With the number of information companies has, they know our lives better than our mothers do. With that sort of intrusion, we expect a better relationship as well. Companies need the Internet of behavior to establish a relationship with customers and create a connection to the brand. Investing in brand loyalty from customers starts from understanding your customers.
IoB programs are only predicted to increase over the years. Government, school, health care providers, tech start-ups will all use IoB for their benefit. As IoT continues to grow so will the application of IoB. We expect to see the same in Malaysia. In fact, it is already happening. Major services and products such as the TM unifi package is pioneered based on our online behaviors. Devices and innovations only work when we include the human psyche in the equation as well.
