Every day, companies collect data from everything we do. From taking a phone call to buying your morning breakfast, data information is a part of our lives and can identify our behaviors. The Internet of Behaviors (IoB) is a term you may or may not have heard of but is extremely important to understand as we head into a digital future. Here is a general overview of IoB and how it works within your life.
What is the Internet of Behaviors?
The IoB is entirely focused on collecting data from people then using that data to understand human behaviors. IoB can be seen in marketing departments as it is a great tool to understand consumer behaviors through analyzing data. What is interesting about IoB is that it is descriptive and proactive at the same time. Having a descriptive and proactive system means that IoB collects data to analyze behaviors and understand psychological components to know why people do the things they do. What does this do? It adds value for the company and consumers as a whole.
Having IoB in place generates additional efficiencies while ensuring companies are meeting consumers’ quality and experience expectations. An example of IoB can is our vehicles. When braking too hard in your car, telematics can alert the driver of the issue so it can help safely change your braking habits—examples like this show what exactly IoB does when collecting data.
Benefits IoB Can Have for Your Business
There is no question that IoB is an excellent resource for any business to use going forward. Many big companies like Facebook already use IoB when pop-up ads appear on your home page, showing you products you recently looked for. This ad experience encourages consumers to buy a specific company’s product as a result. The benefit of using IoB is that you can collect valuable data in favor of your product/business. Managing this data ultimately can improve your products/services to consumers making everyone excited. Another excellent benefit of IoB is how companies can study data that has previously never been utilized before. This data shows how consumers are interacting with products, and again, indicates the behaviors consumers have. This information is valuable for any business in helping reach more consumers.
A Concern with Internet of Behaviors
Although IoB has many benefits, there are still some concerns with the technology and its data collecting. The biggest problem with IoB is its ethical practices. Collecting sensitive information from consumers can pose a significant security risk for any individual. By companies accessing your data, you are allowing them to access your private information. On the other side, companies have a significant responsibility to encrypt and secure this data. This concern could sometimes welcome unwanted cybercriminals to collect and sell your information if a security breach ever were to occur. Luckily, there are many ways to help reduce this risk, but it is vital to understand how valuable your data is and why you or your company should be cautious.
What To Do Next
Knowing the benefits and dangers of sharing your data are essential for any individual or business as we embark on a data-driven future. As Internet of Behaviors becomes more popular, teaming up with Johnson Service Group’s IT Consulting professionals can help you understand what security measures you should take when thinking about IoB in the future. We provide analytics, consulting, round-the-clock remote support, and more to get you up and running. Contact us today to discuss how we can safely aid your IoB efforts!