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What is Internet of Behaviour (IoB)
In this era of the Internet of Things (IoT), where massive numbers of devices are interconnected and share data and information via the Internet. This enormous amount of data demands a system that can comprehend and manipulate the data to understand human behavior better. By analyzing the interaction of humans with IoT and observing the pattern in their behavior, a better and more profitable marketplace can be created by influencing the behavior of humans.
The term “Internet of behavior” was first introduced by Gothe Nyman, who was working as a professor of psychology at the University of Helsinki. He was the first to describe the importance of behavioral psychology in the collection of data in one of his blogs in 2012.
Internet of Behaviour
The Internet of Behavior is the amalgamation of three different fields, those are Data analytics, behavioral science, and the Internet of things. Behavioral science includes the study of augmentation, emotion, decision, and companionship, which is used to evaluate individual internet activities providing valuable information related to the users and their interests. IoB collects information from browsing history, eating habits, cookies, social media interaction, locations, and transactions.
Advantages of IoB
Below are Few Advantages of IoB− 1.
Marketing
It uses behavioural data to understand the buying habits of the customers including the time, category, and interest in shopping, and then provide them with targeted ads. It also triggers advertisements in notifications, based on the products that have earlier shown interest in.
Customer experience
It creates a better experience for the users by collecting real−time feedback from them. Also, responding to them with the required actions adds to customer satisfaction.
It also monitors the interaction between the sales team and the customers which increases the overall efficiency of the sales department.
Production and services
IoB adjusts the production of goods after observing the demand of the product which helps to reduce the wastage of raw material.
It also analyses the previous interaction of individual customers with the company to further improve the user−product relationship.
Real Life Application of the Internet of Behaviour (IoB)
Here are few applications of IoB:
Digital marketing and advertising
Marketing agencies and organizations now have started to personalize the advertisements that show up on the customer's feed while scrolling through social media platforms. This personalization is done based on previous customer interactions with specific products.
For example, when a brand gets to know about your need to lose weight and unhealthy eating habits, then within no time it starts pushing weight loss supplements and fitness coaches in your fees. In addition, if the location access is provided then it also starts recommending gym and fitness clubs near you.
Healthcare
IoB can be trained to give out insights into the ongoing treatment of a patient. It can help in keeping track of the medications provided which will increase the rate of speed of treatment and the patients can get quick relaxation. Also, it reduces the efforts of physicians by providing them with facilities like automated diagnosis.
For example, during the lockdown period, we have seen popular food delivery services using safety protocols like wearing masks and maintaining social distancing. They also broadcasted the temperature of the delivery person for the safety and reassurance of the customers.
Insurance
Using IoB the insurance companies could track the activities of drivers and find out their contribution to road accidents and can correctly spot the guilty person. This can also play an important role in preventing mishaps occurring due to drunk driving or illegal age driving.
For example, with the help of IoB the insurance companies could easily spot the customers with low risk if they wish to reward them for safe driving habits.
Drawbacks of IoB
There is a flood of sensitive and personal data including intimate physical information and internal body data. So, it becomes very crucial for the service providers to convince their users that their data are shielded with a very strong privacy policy. Companies need to make sure that their users don’t feel like they are being spied on or their private information is under threat.
Some of the major challenges faced by IoB technology are as follows:
Value − In exchange for extremely sensitive information, people want an improved lifestyle, personalized services, and superior products and services. In this situation, the customers need to be aware of the risk and they should know whether these improved services are worth the sensitive data that they are going to provide or not.
Security − The large number of sensitive information revealed can be also used for cyberattacks. The severity of these type of cyberattacks might be even more than conventional cyberattacks as it includes more behavioral details and personal information.
Hence it is important to maintain a balance between personalization and intrusiveness for safe IoB functioning.
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